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FRIDAY DECEMBER 11, 2015 ISSUE 2065/2015

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Congratulations to those who won tickets for Joey Yap’s Feng Shui seminar ep8 NEWS ep18 DEALMAKERS ep22 FENG SHUI in JB (Dec 12). Enter now for tickets to seminars in PJ (Jan 9 & 10) & Penang (Jan 24). IOI to launch Enigma Square How to turn pro More than just about in Bandar Puteri Bangi in tough times decorating your property Find out how at theedgeproperty.com

READY TO SHINE Strategically located between Petaling Jaya and Sungai Buloh in Selangor, Damansara North — comprising Bandar Sri Damansara and Damansara Damai — is expected to benefi t from the massive Kwasa Damansara development in Sungai Buloh. See story on pages ep12 & 14.

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Nusajaya to be renamed infrastructure, interchanges and by Kulim’s internally generated Ministry of Urban Wellbeing at www.theedgeproperty.com Iskandar Puteri in 2016 roads. funds. developing housing Th e company will invest an ad- The land is currently rented database ditional RM3.5 billion in property by EPASA Shipping Agency Sdn development, bringing its total Bhd, a wholly-owned subsidiary investments next year to about of Sindora Bhd, which is a whol- RM7.5 billion. Lin said Gamu- ly-owned subsidiary of Kulim, at da’s gearing will be about 0.7% the rate of RM90,000 per month or of its equity. RM1.08 million a year, from JCorp. For the calendar year 2015, Gamuda has spent about RM4.5 KTM Komuter service to be Sunway Bhd — billion in projects in Vietnam, Sin- rerouted during six-month Malaysia’s No 1 gapore and Melbourne, among trial developer others. Lin is positive on the construction industry as the government is embarking on several rail- Nusajaya, the administrative cen- way projects. tre of Johor, will be renamed Iskan- He added that now is the time dar Puteri from January next year. to make capital investments and State secretary Datuk Ismail Karim analyse the cost structure to help Th e Ministry of Urban Wellbeing, said on Tuesday that the name mitigate the slowdown in the Housing and Local Government is change was made with the agree- economy. developing a database of housing ment of the Sultan of Johor, Sultan He said Gamuda would focus across the country. IJM Land Ibrahim Iskandar, and the state on deepening its investments in Datuk Abdul Rahman Dahlan Bhd among government. Two other districts the seven countries in which it said the system, which was be- will also be renamed: Ledang (to operates – Malaysia, Vietnam, Sin- ing developed by the National Malaysia’s top be renamed Tangkak) and Kulai- gapore, Taiwan, India, Australia Housing Department, will provide 10 property jaya (Kulai). and Qatar. information on off ers for bumi- developers Sultan Ibrahim had requested putera units and the progress of the state government to reinstate Kulim to acquire land from The KTM Komuter train service residential projects throughout Kulaijaya’s original name with Johor Corp for RM17.93 mil will be rerouted from Dec 15 for the country. immediate eff ect in August, out Kulim (Malaysia) Bhd has pro- six-months in preparation of an He said that through this sys- of respect for its history, and for posed to acquire 14 acres of indus- infrastructure upgrade and track tem, bumiputera units in all states the state government to consider trial land in Johor from Johor Corp rehabilitation work. According to a that have not been sold will be a new name for Nusajaya for sim- Bhd (JCorp) for RM17.93 million. statement on the KTM Bhd (KTMB) made known to the public for the ilar reasons. Th e acquisition will result in website, one of the new routes is fi rst time. savings on monthly rent payable from Tanjung Malim/Rawang to Th e ministry will request an ad- Gamuda to invest RM7.5 bil to JCorp and accrue benefi ts to Port Klang, instead of Seremban. ditional three-month period from in construction division Kulim, in anticipation of its fu- Th e other is from Batu Caves developers to off er these units to Gamuda Bhd will invest about ture value appreciation, as the to Seremban/Gemas, instead of bumiputera buyers before they are The Edge Communications Sdn Bhd RM7.5 billion in its construction property has a 45-year unexpired Port Klang. Members of the public released as freehold property, he (266980-X) division in its fi nancial year 2016, lease period. is advised that delays are expect- said in reply to a supplementary Level 3, Menara KLK, No 1 Jalan PJU 7/6, Mutiara Damansara, 47810 Petaling Jaya, said its group managing director In a fi ling with Bursa Malaysia, ed, caused by factors such as the question from Senator Norliaza Selangor, Malaysia Datuk Lin Yun Ling after the com- Kulim said it had entered into a weather and works by contractors. Abdul Rahim at the Dewan Ne- pany’s annual general meeting sale and purchase agreement with Th e upgrading and track rehabili- gara on Monday. on Monday. JCorp for the proposed acquisition tation work is expected to take four Norliza wanted to know about Publisher and Group CEO Ho Kay Tat Gamuda has invested RM2 bil- of 14 acres of industrial land in years. Th ey are part of the dou- the government’s eff orts to assis lion in three townships and al- mukim of Plentong, Johor Bahru. ble-tracking project in the Klang low and middle income earners Editorial For News Tips/Press Releases located another RM2 billion for Th e acquisition will be funded Valley which will begin in April. to own a home. Tel: 03-7721 8219 Fax: 03-7721 8038 Email: [email protected]

Senior Managing Editor Azam Aris Contributing Editor Sharon Kam If you have any real estate-related events, email us at [email protected]. Editor Rosalynn Poh LAUNCHES & EVENTS Events listed here will also appear on theedgeproperty.com. Deputy Editors E Jacqui Chan, Wong King Wai Assistant Editor Lam Jian Wyn Senior Writer Racheal Lee Mah Sing Property Showcase Southville by Mah Sing Willy Wonka’s units are part of a 100-acre Writers Chai Yee Hoong, Date: Dec 12-13 (Sat and Sun) Property Roadshow Christmas Party township. The project off ers semi- Rachel Chew, Hannah Rafee, Venue: SJK (C) Kepong, Date: Dec 12-13 (Sat and Sun) detached and bungalow houses Tan Ai Leng, Natalie Khoo, Ewe Shufei Jalan Besar Kepong Venue: D’sara Sentral, Star priced from RM2.05 million. Art Director Sharon Khoh Time: 11am to 6pm Avenue, No. 3, Jalan Zuhal Design Team Cheryl Loh, Contact: 03 6092 6599 U5/179, Shah Alam E&O’s Straits Quay hosts Valerie Chin, Aaron Boudville, Featuring talks by the Malaysian Time: 12pm to 4pm VEGA Open House Aminullah Abdul Karim, Institute of Estate Agents Contact: 016 306 6000 / dsara. Yong Yik Sheng, Tun Mohd Zafi an Mohd Za’abah, Noorain Duasa immediate past president Siva [email protected] Shanker and Soleil Trinity Mah Sing is organising a Corporate Resource owner and founder Christmas party to celebrate Managing Director Au Foong Yee Jessie Lee, as well as activities the unveiling of its fi nal phase Deputy Managing Director Lim Shiew Yuin for children such as coin-bank of 2-bedroom and 3-bedroom painting and playdough- dual-key units. Expect family- Date: Dec 18-27 (Fri to Sun) Advertising & Marketing crafting workshop. The fi rst 100 Date: Dec 14-20 (Mon to Sun) friendly activities such as balloon- Venue: Straits Quay Marina, To advertise contact registrants receive a mystery Venue: IPC Shopping Centre atrium, sculpting and “Snap-A-Pic” with Jalan Seri Tanjong Pinang, GL: (03) 7721 8000 Fax: (03) 7721 8288 gift. Refreshments provided. No 2, Jalan PJU 6/2, Mutiara Willy Wonka, Christmas carolling Tanjung Tokong, Penang Chief Marketing Offi cer Damansara, 47800 Petaling Jaya and a full-spread candy buff et Time: 10am to 6pm Sharon Teh (012) 313 9056 UEM Sunrise Property Time: 10am to 10pm on top of a Christmas lunch. Contact: 04 899 5228 General Manager, Digital Media Showcase Opening Contact: 019 988 3856 VEGA is a historic 120-year-old Kingston Low (012) 278 5540 Senior Sales Managers Date: Dec 12-13 (Sat and Sun) Southville City @ KL South, Launch of Permata Norwegian vessel that collects and Geetha Perumal (016) 250 8640 Venue: Lot 19, Level G2, developed by Mah Sing Group, is Heights, Gombak delivers donated tools, educational Fong Lai Kuan (012) 386 2831 Publika Shopping Gallery, a freehold 428-acre integrated Date: Dec 12 (Sat) and medical supplies to remote Peter Hoe (019) 221 5351 Solaris Dutamas, Jalan township off ering 2.5-storey Venue: Permata Heights Sales islands in Indonesia. Guests can Gregory Thu (012) 376 0614 Creative Marketing Dutamas 1, Kuala Lumpur and 3-storey link houses. It Gallery, No 1, Jalan Bukit learn more about its mission, meet Chris Wong (016) 687 6577 Time: 11am to 6pm places emphasis on regenerative Permata, Taman Bukit Permata, the people operating it, explore the Head of Marketing Support & Ad Traffi c Contact: 1 800 888 008 landscaping and healthy lifestyles. 68100 Batu Caves, Selangor vessel and purchase spices and Lorraine Chan (03) 7721 8001 Presenting UEM Sunrise’s latest Easily accessible from all major Time: 10am to 5pm beans from Indonesia. Donation of Email: [email protected] developments. There will be Klang Valley locations, it also Contact: 013 717 9999 funds and supplies are welcome. fl ute and harp performances, provides 24-hour security and Permata Heights is developed The Edge Property is published and giveaways, DIY virtual reality and a variety of educational, retail by Selangor Properties Bhd distributed with The Edge Financial 3D Christmas card workshops and and recreational venues on top subsidiary, Keruan Jaya Bhd. Daily every Friday. For more property data, listings and news, photo sessions with Santa Claus. of six prominent golf clubs. The landed residential freehold go to theedgeproperty.com. FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY EP7 FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY EP8 PROPERTY | NEWS

Mah Sing develops RM1.1 bil Ramada IOI to launch Enigma Square hotel in Medini, in Bandar Puteri Bangi Iskandar Malaysia BY EWE SHUFEI

JOHOR BAHRU: Mah Sing Group Bhd will develop the second Ramada hotel Tesco and Enigma Square expected to catalyse Klang Valley’s southern corridor in the city, the Ramada Meridin Johor Bahru. It launched the first hotel, Ram- ada Encore in Meridin@Medini, Johor BY CHAI YEE HOONG Bahru, in mid-September. Th e Meridin@Medini has an estimat- SELANGOR: IOI Properties Group Bhd will ed gross development value of RM1.1 launch its next commercial off ering Enigma billion, and both hotels will be man- Square in its new 370-acre township Bandar aged by property management firm Puteri Bangi in January next year, said IOI Topotels. The signing of the second Properties chief operations offi cer Teh Chin franchise agreement was announced Guan at the groundbreaking ceremony of Teh: Enigma Square has by Wyndham Hotel Group on Dec 8. Tesco Bandar Puteri Bangi today. gross development value of “We were very heartened by the “Enigma Square has gross development about RM200 million and will overwhelming response [to] the devel- value of about RM200 million and will com- comprise 93 units of 3-storey opment of the Ramada Encore Meridin prise 93 units of 3-storey and 4-storey shop-of- and 4-storey shop-oﬃ ces. Johor Bahru. This second agreement fi ces. It is the second commercial develop- Photo by Shahrin Yahya/The is a result of that success and our con- ment in the township after Kubica Square, Edge Property tinued confidence in the capabilities which also comprises 3-storey and 4-storey of both Ramada and Wyndham Hotel shop-offi ces and are 90% taken up,” Teh said. Group,” said Mah Sing CEO Ng Chai Enigma Square’s 3-storey shop-offi ces Yong in a press statement. have a built-up area of 5,280 sq ft and are “We see Johor Bahru as a prime lo- priced at RM1,558,000 each, and the 4-sto- cation for our growing global portfolio rey shops are RM2,198,000 each and have and in particular our internationally a built-up area of 7,040 sq ft. will serve as the catalyst in transforming Ban- According to Teh, Phase 1 of The Ter- recognised Ramada brand,” said Wyn- To be located 500m from Tesco Bandar dar Puteri Bangi into the new commercial resse is fully sold, and Phase 2 which was dham’s Hotel Group managing direc- Puteri Bangi, Enigma Square is expected to pulse of Southern KL Corridor.” launched recently is 60% taken up, while tor for Southeast Asia and the Pacific, be completed by end-2017. Teh is hopeful Bandar Puteri Bangi is a master planned Almyra Residence is 68% sold. Barry Robinson. the units will be fully taken up when Tesco freehold development that is intended as a Teh said IOI Properties will be launch- store opens its doors in the fi rst quarter of major business and economic centre in the ing some 600 townhouses in Bandar Puteri 2017 (1Q2017). southern corridor of Klang Valley, which in- Bangi in 3Q2016 with GDV of about RM300 Sitting on 7.53 acres, Tesco Bandar Put- cludes Kajang, Bangi, Semenyih and Nilai. million. Th e entire township is expected to eri Bangi will be the 56th store in Malaysia, Located next to the North-South Express- be completed in 10 years. and has a built-up area of 101,182 sq ft. It way, the township has a current GDV of RM1 Th e groundbreaking ceremony of Tesco will off er Tesco Value, Choice, and Finest billion and was launched in January this year. Bandar Puteri Bangi was offi ciated by Tes- product ranges, as well as 4,000 house brand To date, the other projects that have been co Malaysia operations director Ian Kent, products, 90% of which are locally sourced. launched in Bandar Puteri Bangi are Phase 1 Tesco Malaysia property and mall director In a press statement, IOI Properties says, and 2 of Th e Terresse superlink houses and Al- Jason Chong, IOI Properties CEO Lee Yeow “Th e presence of Tesco and Enigma Square myra Residence high-rise serviced apartments. Seng and Teh. Selangor Dredging focuses on M’sia, S’pore

BY RACHEAL LEE continue to do so both here as well as in Singa- pore. Each purchase is done with a theme in KUALA LUMPUR: Selangor Dredging Bhd will mind, so what we buy will very much depend remain focused on the Malaysia and Singapore on how we envision how to use the land. In fact, property markets for the time being, while it we are also open to potential joint ventures if it remains open to doing business in other mar- suits our business and brand of development.” kets. Th e property developer recently exited Selangor Dredging is currently developing Artist impression of the Ramada hotel within the the UK market after its associate company SDB Th e Hub in Petaling Jaya, a mixed-use devel- Medini complex. Photo by Mah Sing Group Guernsey Ltd entered into a sale and purchase opment comprising 13 low-rise, four-storey agreement (SPA) with AL.AN SA for the sale retail offi ce blocks and a 44-storey offi ce Scheduled to open in 2018, the of its freehold four-storey building in London. block. It also owns 14 acres of land in Taman 26-storey, 322-room Ramada Meri- Selangor Dredging managing director Melawati and 18 acres in Bukit Serdang, for din is integrated with the Meridin @ Teh Lip Kim notes that the timing of the which projects are being planned. Medini development, which sits on sale was appropriate, taking into account Meanwhile, Selangor Dredging will not 8.19 acres. Facilities offered in the the currency exchange rate. Th e property Teh: Keeping an eye out for potential land acquisition launch any project until the property mar- hotel include a yoga and meditation was sold at a premium. Photo by Patrick Goh/The Edge Property ket recovers. Teh acknowledges that while deck, reflexology area, swimming pool, “In March 2011, we acquired the freehold project sustainability will be a challenge wading pool, lap pool, aqua gym, cafe, four-storey building in London for £9.8 mil- will comprise a 31-storey sovo (small offi ce, and there may be the possibility of a dip in oasis garden, mini amphitheatre, ten- lion (RM65 million at current rates). When versatile offi ce) tower, a 35-storey serviced revenue and profi ts, it is a better option to nis court, playground, pavilion and an we recently sold it to Luxembourg-incor- apartment block and retail offi ces. weather the storm wisely than to launch new outdoor gym. porated AL.AN SA. it was at £13 million, Th e Cube, which comprises 38 retail offi ce developments that do not sell. Ramada Meridin is located about which was above the £11 million as valued units, will have a gross development value “Construction of any such developments 45 minutes away from Singapore and by Knight Frank LLP," said Teh. “We will con- (GDV) of RM48 million. Meanwhile, the 35-sto- would have to be completed, even if only 10% less than a kilometre from from Leg- tinue to keep a look out for opportunities to rey serviced apartment block will include a po- or 20% is sold. So we would rather develop oland Malaysia. It will be part of the be evaluated as they come along. In fact, we dium level and 255 units of between 1,000 sq when the time is right and when we are con- Medini township that is expected to are open to potential joint ventures if it suits ft and 2,400 sq ft in built-up area. Th e GDV for fi dent that we can sell at least 70%,” she said. become the central business district of our business and brand of development.” the serviced apartment block is RM261 million. “Financially, we remain profi table even in the southern economic zone of Johor Meanwhile, in Malaysia, the developer is “For both Singapore and Malaysia, we the current market. As of the second quarter Bahru’s Iskandar region. It will be the going ahead with two launches in the second continue to keep an eye out for opportuni- this fi nancial year (2QFY16, ending March fifth Wyndham Hotel Group property quarter of next year of Th e Cube offi ce and ties to acquire land for future development. 31), we still have unbilled sales of RM472 to open in Malaysia. a serviced apartment project at SqWhere in We also continue to work on product devel- million. In that quarter, we achieved a profi t Wyndham Hotel Group is a hotel Sungai Buloh. opment for our parcels of land in Melawati before tax of RM10.4 million on a turnover brand franchisor and hotel manage- SqWhere is a mixed-use development and Serdang,” Teh said. of RM52.9 million as compared with 2Q2014 ment services provider with a portfolio connected to Sungai Buloh MRT station via “We have always kept an eye open for suit- of profi t before tax of RM15.4 million on a of over 7,760 properties in 71 countries a 75m direct link bridge. Th e development able land for future development and we will turnover of RM96.3 million.” under a number of brands. FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY EP9

Property Excellence Awards 2015 HEARTIEST CONGRATULATIONS

THE EDGE MALAYSIA THE EDGE MALAYSIA TAN SRI DATO’ SERI ABD WAHAB MASKAN TOP PROPERTY DEVELOPERS AFFORDABLE URBAN HOUSING THE EDGE MALAYSIA OUTSTANDING AWARDS 2015 EXCELLENCE AWARD 2015 PROPERTY CEO AWARD 2015 SARON, BANDAR BUKIT RAJA

FROM

.,7$&21 6(1',5,$1%(5+$' Building & Civil Engineering Contractor (195139 D) EP10 FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY FRI FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY EP11 FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY EP12 PROPERTY | COVER STORY

The overview of today’s Damansara Damai. Photo by Rachel Chew

PHOTOS BY MOHD IZWAN MOHD NAZAM/THE EDGE PROPERTY North star

Bandar Sri Damansara and Damansara Damai, collectively known as Damansara North, are expected to gain from the spillover of the Kwasa Damansara mega township development in neighbouring Sungai Buloh

BY RACHEAL CHEW price of non-landed residential property in Damansara North spiked 39.1% to RM298 per ocation is the golden rule of prop- square foot (psf) from RM214 psf a year ago. erty investment. A good location However, total transactions for the 12 months is one that is preferably close to to 1Q2015 declined 21.6% to 735 units from Bandar Sri Damansara residents can ﬁ nd virtually everything they need in the commercial area. an urban centre, and has great 938 units previously. (See Charts 1 & 2) connectivity. Its developments “Th at (contradiction between higher pric- are self-contained and mature, es and lower transaction volume) was most- Lyet still have room for growth. ly because supply was lower than demand. In the Klang Valley, only a few areas fulfi l I have buyers that want to buy in that area these criteria. One of them is Damansara more than sellers that want to list a unit,” says North in Petaling Jaya (PJ), Selangor. For the Vivahomes Realty Kepong branch manager, purposes of this article, Damansara North Chong Chia Yew. is identifi ed as the northern part of PJ city Zooming in on Bandar Sri Damansara, the and covers PJU 9 and PJU 10, better known area mainly off ers mid to high-end landed as Bandar Sri Damansara and Damansara and strata homes. “Compared with townships Damai, respectively. nearby, such as Aman Puri, Taman Bukit Sitting at the border of Selangor and Kua- Maluri and Sunway SPK, Bandar Sri Daman- la Lumpur, Damansara North is 10km away sara is a small but well-planned township from the well-established PJ, and 8km from that has almost everything a family needs, growing Sungai Buloh. It is linked by sev- such as international and local schools, eral highways, such as Lebuhraya Daman- commercial areas, neighbourhood market, sara–Puchong (LDP), Kuala Lumpur Mid- offi ces, clubhouse, a variety of restaurants, dle Ring Road 2 (MRR2), New Klang Valley banks and petrol stations,” says Chong, who Expressway (NKVE), Kuala Lumpur–Kuala specialises in Damansara North. Selangor Expressway (LATAR), which makes Bandar Sri Damansara was developed by commuting to and from anywhere in or out Land & General Bhd in the 1990s. Th e mixed- of the Klang Valley pretty easy. use development sits on about 1,200 acres Given its strategic location and upside of freehold land and comprises mainly of High-rise residential units in Bandar Sri Damansara. potential, as well as the spillover eff ect of the terraced houses, apartments and shop-of- upcoming township developments in Sungai fi ces. Some of the prominent landmarks in iums. Generally, the condominiums are spike in Damansara North, particularly in Buloh, the average price of strata residences Bandar Sri Damansara are Sri Damansara trending at about RM350 psf to RM400 psf, Bandar Sri Damansara over the last few years in Damansara North has been moving up- club house, 8trium at Sri Damansara, Hotel while the medium-cost apartments are about was most likely due to demand exceeding wards outstandingly over the past few years. Sri Damansara and SSF Building. RM250 psf to RM300 psf,” says Laurelcap Sdn supply by a great deal “because homeown- An analysis of transactions as at 1Q2015 by “In Bandar Sri Damansara, there are some Bhd executive director, Stanley Toh. ers are not in the selling mode as [they] are theedgeproperty.com shows that the average medium-cost apartments and condomin- He concurs with Chong that the price CONTINUES ON ep14 FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY EP13

Property Excellence Awards 2015 HEARTIEST CONGRATULATIONS

FROM FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY EP14 PROPERTY | COVER STORY

SOURCE: THEEDGEPROPERTY.COM Bandar Sri Damansara/Damansara Damai non-landed residential average price

SOURCE: THEEDGEPROPERTY.COM

Bandar Sri Damansara/Damansara Damai non-landed residential transaction volume

Sekolah Seri Bestari in Bandar Sri Damansara.

FROM ep12 see more investors looking to this area now made up mostly of owner occupiers and for its future [value] appreciation and, more not investors.” importantly, the area has a low-investment He believes Bandar Sri Damansara will entry point,” Chong says. He adds that pro- see a gradual and steady increase in overall jects that are expected to have a spillover values due to its good road network and close eff ect on Damansara Damai include those proximity to Damansara Perdana, Mutiara that are part of the Kwasa Damansara de- Damansara (and Th e Curve Shopping Cen- velopment. tre), Bandar Utama (1 Utama Shopping Cen- According to Chong, investors can easily tre), Desa ParkCity and the under-construc- fi nd RM150,000 to RM200,000 basic walk-up tion Empire Damansara Shopping Centre. apartments in Damansara Damai now. Th e average price of older apartments in the vi- Damansara Damai catching up cinity is between RM200 psf and RM300 psf. Table 1: Upcoming non-landed residential in Damansara North Located next to Bandar Sri Damansara is Th e belief in the bright future of Daman- DEVELOPMENT DEVELOPER PRICE (PSF) LAUNCH EXPECTED Damansara Damai, which attracts relatively sara Damai has also drawn more developers PROJECT NAME DATE COMPLETION DATE less attention from property investors and there. Among them are OSK Property Hold- homebuyers. One reason for this is the traf- ings Bhd which is building the 100-acre gated Damansara Foresta L&G Bhd RM600 2013 End 2015 fi c congestion in the area. residential development Sutera Damansara; Azelia Residence TA Global RM700 2011 May 2014 Damansara Damai was developed by Sentral City (Sphere Damansara integrated Residensi Suasana MK Land RM450 2015 2019 MK Land Berhad, mainly on state-alienated development); and Jaya Megah Building & The Zizz Jaya Megah Building RM490 2015 2019 land. Th e area is bounded by Jalan Sungai Engineering Sdn Bhd (Th e Zizz, a 26-storey & Engineering Buloh to the north, Sutera Damansara to the residential development). Source: Laurelcap Sdn Bhd south, Bandar Sri Damansara to the east and “Of course, the future Damansara Damai Saujana Damansara to the west. [MRT] station has helped to create some “Damansara Damai off ers more low and buzz,” Chong says. ship is located in an established area with that the average price of newer projects is middle-cost high rises that many can aff ord. Th e MRT Sungai Buloh-Serdang-Putrajaya good road connectivity and amenities. Th e around RM600 psf. However, the area has only one exit, which line due in 2022 will have three stations in new MRT Sungai Buloh line is just a couple According to theedgeproperty.com, the causes a serious traffi c jam in the locality. Damansara North: Damansara Damai, Sri of kilometres away, not to mention the up- fi ve non-landed properties with the highest Residents are easily trapped at the exit for Damansara West and Sri Damansara East. grading of Jalan Sungai Buloh and the Kwa- annual growth in average price in Daman- half-an-hour to 45 minutes during peak However, Chong also believes Daman- sa Land development (Kwasa Damansara) sara Damai in the 12 months to 1Q2015 were hours,” says Chong, adding that this is one sara Damai’s renewed popularity can be in Sungai Buloh. Th ese are some of the key SD Apartment 11 (+36.7% to RM361 psf), SD of the main reason buyers are losing inter- attributed to its location. factors that contributed to the sharp price Tower (+32.3% to RM440), Flat Sri Cemara est in the area. “With or without the future MRT sta- increase in 1Q2015,” Toh says. (+25.1% to RM129 psf), SD Tiara Apartment However, Chong observes that prices of tions, I do believe property prices here will Kwasa Damansara is a 2,330-acre town- (+21.7% to RM357 psf) and Paradesa Rustica non-landed residential property in Daman- appreciate anyhow because the area is so ship development that is master planned and (+16.1% to RM392 psf). sara Damai have been on a gradual uptrend well located,” he says. being developed by Kwasa Land Sdn Bhd, a “Th e common element among these fi ve over the years, boosted by its future potential. Toh is also optimistic on the outlook for wholly owned subsidiary of the Employees non-landed properties would be the fact that “Damansara Damai is in between Bandar Damansara Damai. “I would think that hous- Provident Fund. Located on land formerly their prices have been depressed for the last Sri Damansara and Sungai Buloh. Sungai Bu- ing prices have been quite low for some time, occupied by the Rubber Research Institute fi ve years relative to other condominiums in loh has a lot of new infrastructure, residen- within the RM200 psf range. Now, as every- of Malaysia in Sungai Buloh, the township the Klang Valley, and now they have found tial and commercial projects going on — it where else has moved up to the RM300 psf is expected to have residential, commercial, their new equilibrium,” says Toh. is defi nitely the next upcoming township. I range, it will naturally follow suit. Th e town- educational and recreational components. He also sees average rental yields for Th e development is expected to be built over non-landed homes in Damansara North the next 20 years. remaining healthy; where yields in Ban- Toh concurs with Chong that Daman- dar Sri Damansara range between 3% and sara Damai’s biggest strength is its location. 4.9%, they range between 4.5% and 7% in “[It] is aff ordable and sited in an estab- Damansara Damai. lished area with a good road network, in- However, Toh expects rental yields for frastructure, facilities and amenities. Th e both areas to plateau due to the incoming close proximity to the Sungai Buloh exit of supply of units from new high-rise devel- the NKVE has made travelling to Rawang, opments. Kuala Lumpur, Petaling Jaya and Klang very “The newly completed developments convenient.” are currently dropping rental prices just to compete, as most of the buyers for these Price benchmarks projects are investors and not owner occu- Damansara North has seen more projects piers,” Toh reveals. being developed in the area, especially after Moving forward, he says there could be an the confi rmation of the three MRT stations imbalance between demand and supply as for the vicinity. more high-rise units come on to the market. Some of these are the high-rise residential “Nevertheless, land is scarce in both ar- Damansara Foresta, Azelia Residence, Res- eas as the only landowners left in Bandar idensi Suasana and Th e Zizz. (See Table 1) Sri Damansara are TA Global and L&G Ber- “I see prices of older, non-landed homes had, and MK Land, respectively. Th erefore, Toh: I foresee the prices of older non-landed Chong: I do believe Damansara Damai property rising to meet the prices of new projects. Th e once these parcels are developed, prices of properties rising to meet those of new projects. values will appreciate anyhow because of its prices of older and low-cost apartments are existing non-landed properties will start to Photo by Shahrin Yahya/The Edge Property location. Photo by Chong Chia Yew on a gradual uptrend,” Toh notes, adding shoot up,” he says. FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY EP15 FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY EP16 PROPERTY | MARKET WATCH Go to theedgeproperty.com

FOR SALE [in Damansara North, Selangor] FOR RENT [in Damansara North, Selangor]

One Damansara, Armanee, Damansara Bhd (REN 09819) Damansara Damai Damai Tel: (019) 241 1558 Type: Condominium/ Type: Condominium/ serviced residence serviced residence Idaman Apartment Tenure: Leasehold Tenure: Leasehold Type: Condominium/apartment Asking price: RM398,000 Asking rent: RM2,500 Tenure: Leasehold Built-up area: 986 sq ft Built-up area: 1,680 sq ft Asking rent: RM600 Bedroom(s): 3 Bedroom(s): 4 Built-up area: 850 sq ft Harmoni Apartment, Armanee, Damansara Damai Bathroom(s): 2 Bathroom(s): 3 Bedroom(s): 3 Damansara Damai, Type: Condominium/ Description: Partly furnished, Description: Renovated, Bathroom(s): 2 Petaling Jaya serviced residence well-kept unit with kitchen fully furnished unit with two Description: Newly Type: Condominium/apartment Tenure: Leasehold cabinet, fan, light, unblocked covered car park bay. Come refurbished, ground-floor unit. Tenure: Leasehold Asking price: RM530,000 views and one car park bay. with wall-mounted LED Agent/negotiator: James Asking price: RM148,000 Built-up area: 1,645 sq ft Agent/negotiator: John screen, mini home theater, How of Aczeon Properties Built-up area: 650 sq ft Bedroom(s): 3 Chuah of Maxland Real Estate Blu-Ray player, king-size bed Sdn Bhd (REN 07390) Bedroom(s): 3 Bathroom(s): 3 Agency (REN 15486) in master bedroom, queen Tel: (012) 222 4195 Bathroom(s): 1 Description: Duplex condo unit Tel: (013) 373 5688 bed in second bedroom, Description: Partly furnished on a high fl oor in good condition. single bed in third bedroom. Apartment Permai, unit in 5-storey walk-up Comes with kitchen cabinet, plaster Agent/negotiator: Damansara Damai apartment with kitchen cabinet, ceiling, downlights, air conditioner, Stanley Hang of MIP Type: Condominium/apartment plaster ceiling, water heater and water heaters and two car park bays. Properties (REN 16576) Tenure: Leasehold wardrobe. Short drive to The Amenities: MaxValu, The Curve, Ikea, Tel: (012) 735 5110 Asking rent: RM650 Curve, IKEA, 1 Utama, Kepong Tesco, SK Damansara Damai, SMK Built-up area: 715 sq ft and Sungai Buloh. Easy access to Damansara Damai. Accessibility: SD Tower Bedroom(s): 2 Lebuhraya Damansara Puchong NKVE, LDP, Sprint and MRR2. Type: Condominium/ Bathroom(s): 3 (LDP), North Klang Valley Agent/negotiator: John serviced residence Description: Currently vacant. Expressway (NKVE), Middle Ring Chuah of Maxland Real Estate Tenure: Freehold Facilities: covered parking, Road 2 (MRR2) and Penchala Link. Agency (REN 15486) Paradesa Rustica Asking rent: RM1,200 mini market, playground, Agent/negotiator: Lee Tel: (013) 373 5688 Type: Condominium/ Built-up area: 1,000 sq ft 24-hour security, schools Kah Hooi Sinouis Realty serviced residence Bedroom(s): 3 and KTM Sungai Buloh. Sdn Bhd (REN 16370) Tenure: Leasehold Bathroom(s): 2 Agent/negotiator: Xindy Chia Tel: (012) 257 2237 Asking price: RM430,000 Description: Partly furnished, of Rina Properties (REN 05353) Built-up area: 955 sq ft with water heater and city view. Tel: (012) 477 1988 Bedroom(s): 3 Agent/negotiatoer: Eddy Bathroom(s): 2 Wong of Titanium Realty SD Tiara Apartment, Description: High-fl oor Sdn Bhd (REN 07176) Bandar Sri Damansara unit; good location; comes Tel: (016) 689 9689 Type: Condominium/apartment with air conditioning, sofa Tenure: Freehold Paradesa Tropika, Bandar and water heater. One Damansara Asking rent: RM1,100 Sri Damansara Agent/negotiator: Sky Lim of Type: Condominium/ Built-up area: 811 sq ft Park Avenue, Type: Condominium/ Vivahomes Realty (REN 06884) serviced residence Bedroom(s): 3 Damansara Damai serviced residence Tel: (016) 264 4400 Tenure: Leasehold Bathroom(s): 2 Type: Condominium/ Tenure: Freehold Asking rent: RM1,600 Description: Partly furnished, serviced residence Asking price: RM560,000 SD Apartment II, Bandar Built-up area: 986 sq ft first-floor unit. Master Tenure: Leasehold Built-up area: 1,120 sq ft Sri Damansara Bedroom(s): 3 bedroom with air conditioning Asking price: RM429,000 Bedroom(s): 3 Type: Condominium/apartment Bathroom(s): 2 and wardrobe, TV, cabinets, Built-up area: 1,210 sq ft Bathroom(s): 2 Tenure: Freehold Description: Fully furnished two water heaters. Bedroom(s): 3 Description: Nicely renovated Asking price: RM310,000 unit with two car park bays. Agent/negotiator: Olivia Bathroom(s): 2 corner unit with kitchen cabinet, Built-up area: 807 sq ft Amenities: Econsave (at Foo of First Realtors Description: Urgent sale. Spacious plaster ceiling, extended balcony, Bedroom(s): 3 basement), Petronas and Agency (REN 05277) corner unit, below market price. air-conditioning, private pool and Bathroom(s): 2 Shell petrol stations and Tel: (012) 224 2181 Facilities: 24-hour security, wardrobe. Close to Sri Damansara Description: Facilities include schools. Accessibility: NKVE, covered parking, swimming pool, City Centre, highway exit. a mini market, covered parking, Sprint, MRR2 and LDP. SD Apartment II surau, gym and playground. Agent/negotiator: Mohd Nazril playground, 24-hour security. Agent/negotiator: Type: Condominium/ Built-in kitchen cabinet, grilles, Hisham Omar of Reapfi eld Properties Agent/negotiator: Kenny Tay of Siew Mun Wong of MIP serviced residence balcony with city view. Future (Shah Alam) (REN 01567) Vivahomes Realty (REN 09745) Properties (REN 16595) Tenure: Freehold MRT station nearby. Close to Tel: (019) 381 4048 Tel: (016) 722 5541 Tel: (012) 978 1431 Asking rent: RM1,100 schools (SK Damansara Damai Built-up area: 810 sq ft and SMK Damansara Damai), SD Tower SD Tiara Apartment Parades a Rustica, Bedroom(s): 3 mosques (Masjid Al Muhtadin and Type: Condominium/apartment Bandar Sri Damansara Bathroom(s): 2 Masjid Bandar Sri Damansara) Tenure: Freehold Type: Condominium/ Description: Wardrobe, and Petronas station. Easy access Asking price: RM318,000 serviced residence kitchen cabinets, lights and to NKVE, PLUS and DUKE. Built-up area: 830 sq ft Tenure: Freehold fans. Move-in condition. Agent/negotiator: Ahmad Bedroom(s): 3 Asking rent: RM1,400 Nice area with amenities. Humaizi of Weise International Bathroom(s): 2 Built-up area: 1,100 sq ft Good accessibility to city Property Consultants Sdn Description: Near school, Bedroom(s): 3 centre or other Petaling Jaya Bhd (REN 14064) banks and shops. Unit fully Bathroom(s): 2 areas via LDP, NKVE etc. Tel: (019) 372 6080 Type: Condominium/ tiled, with kitchen cabinet and Description: Partly furnished Agent/negotiator: Greg Lye of serviced residence plaster ceiling. Easy access unit in good condition with Oriental Realty (REN 16415) Lestari Apt Tenure: Freehold to 1 Utama, Ikea, Ikano Power nice view and in a peaceful Tel: (017) 229 8955 Type: Condominium/apartment Asking price: RM530,000 Centre, Kota Damansara, etc. environment. One car park bay. Tenure: Leasehold Built-up area: 1,060 sq ft Agent/negotiator: Derice Kong of Agent/negotiator: John Saujana Apartment Asking price: RM110,000 Bedroom(s): 3 GS Realty Sdn Bhd (REN 16324) Chuah of Maxland real Type: Condominium/apartment Built-up area: 650 sq ft Bathroom(s): 2 Tel: (017) 663 1034 Estate Agency (REN 15486) Tenure: Leasehold Bedroom(s): 3 Description: High-fl oor renovated Tel: (013) 373 5688 Asking rent: RM800 Bathroom(s): 2 unit in good condition with pool SD Tiara Apartment Built-up area: 750 sq ft Description: Partly renovated, view. Comes with one car park bay. Type: Condominium/apartment Pangsapuri Sri Cempaka Bedroom(s): 3 mid-fl oor, low-cost apartment Agent/negotiator: Kenny Tay of Tenure: Freehold Type: Condominium/apartment Bathroom(s): 2 unit. Tenanted. Lestari is directly Vivahomes Realty (REN 09745) Asking price: RM350,000 Tenure: Freehold Description: Partly furnished across a McDonald’s and Shell Tel: (016) 722 5541 Built-up: 870 sq ft Asking rent: RM900 unit with air conditioning, station. Walking distance to SK Bedroom(s): 2 Built-up area: 780 sq ft water heater, wardrobe, and SMK Damansara Damai 1. Bathroom(s): 2 Bedroom(s): 3 etc. Facilities: Barbecue Other nearby schools include Description: Basic unit within Bathroom(s): 2 area, swimming pool, SMK Sri D’sara 2, SMK D’sara walking distance of Chinese Description: Well-kept, playground, 24-hour security, Damai and SK Dsara Damai. primary school and shops. partly furnished unit on launderette, mini market,. Agent/negotiator: Joanne Agent/negotiator: Zyta of second floor, with fridge, Agent/negotiator: Tang of Tech Real Etsate Putra Realty (REN 01505) washing machine and fan. Apple Lim of Vivahomes Sdn Bhd (REN 16728) Tel: (012) 778 3121 Agent/negotiator: Jayce Realty (REN 16850) Tel: (017) 355 9592 Gan of GS Realty Sdn Tel: (012) 290 2800 FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY EP17

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Turning pro

In a slow, crowded market disrupted by tech, professionalism commands a premium, says Fan Yea Jye

BY RACHEAL LEE prospective property buyer. do as I only joined the industry in my 30s,” He suggests they can do their job more says Fan with a tinge of wistfulness. an Yea Jye is a man on a mission: Fan: Developers should eff ectively by giving recommendations on “I’ve met agents who make big the best usage of a space or “talk about things Ch-ch-changes money by using unethical ways, consult agents, who are that attract the buyers the most”. Professionalism becomes more important for and I’ve asked myself if agents can on the ground and know As to aftersales service, negotiators don’t the industry as the market slows and negoti- make money professionally with- market demand best. provide clients enough of it, so they don’t ators become challenged by technology, he out unethical practices. It is about have repeat sales, he adds. observes. One example is Speedrent, a home Fbeing a good person and still making money.” He appreciates that it’s easy for sales- rental classifi ed mobile app that enables land- Fan, founder of TPE Realty, has 10 years people to fall into the comfortable routine lords to deal directly with tenants. He also gives of experience as a negotiator and started of speaking with existing customers and the example of other service industries where conducting training courses for agents and neglecting to cultivate new ones. However, technological disruption is taking place. negotiators fi ve years ago. He and his team this is where the value of good aftersales “Th ere are fewer remisiers and general in- of fi ve train those from other agencies as service shows up — it may prompt existing surance agents than before, and it is cheaper well. Th e courses are conducted in Manda- customers to introduce leads and prospects and easier to buy [stocks and insurance] online rin and English, and will be off ered in Malay from their personal networks to diligent nowadays. Many experienced agents say their from next year. negotiators. existing customers will come back to them … It’s possible to make a good living out of You may not see the impact now but you will selling property, but many people cannot A head start see more young people willing to go online do it, says Fan. Fan started his career with C H Williams Tal- and it will aff ect the industry in a few years.” “Th ere are many OCAs (one case agents). har and Wong after studying Valuation and Fan believes the main challenge for ne- In our line, most agencies don’t pay basic Property Management at Universiti Teknologi gotiators and agents would be in mustering salary so a lot of agents will give up when Malaysia in Johor. However, he quit his job the will and discipline to learn new tricks there’s no income for three months,” he says. after less than a year to join an electronics of the trade. Fan says there are a total of four trainers company as a sales person for four years. “Selling property is diff erent from oth- conducting property training courses “I just took whatever job was available. er sales jobs. You are required to know a in the Klang Valley, but who are not Th en I met up with a friend, Richard Gan, bit of everything, such as the economy, property agents themselves. who asked me to join him as a negotiator law, fi nance, diff erent types of property and He notes that the sales pro- at Goldhill Realty. I was hesitant at fi rst be- building technology. Agents and negotiators fessions, particularly real estate, cause I was getting a high pay at that time have to understand these things thoroughly do not usually equip its profes- and property negotiators have no basic before they start selling. sionals with standard operating income. It was risky and I had no confi - “Also, as most full-time negotiators were procedures. dence,” recalls Fan. salaried employees before embarking on their “No one teaches a systematic Th en he plunged head fi rst into the real estate careers, they don’t change their way of doing sales. So, I created a industry after convincing himself of mindsets to one of a self-employed person. structure that enables us to mon- its viability. Th e long-term goal: to Most don’t have the required discipline and itor our moves and the actions we manage his own company. they tend to do whatever they like, rather have taken,” says Fan. In his fi rst three months as a than what they should be doing,” says Fan. Th is structure comprises six negotiator, he had zero income. Fan believes passion and discipline are components: listing of the proper- Th en he topped the sales charts keys to success in this career, and negoti- ty, inspection, marketing, viewing the very next month and for sub- ators should also specialise in an area or with the client, closing the deal, sequent quarters. “At the same property type. and aftersales service. He notes time, I started coaching my col- “I hope to educate buyers on the type of that two components — viewing leagues,” says Fan, who acknowl- property they should buy and help devel- and aftersales service — are not em- edges that learning about property opers understand market demand and sell phasised enough. in university was a boon for his career. the right products. If buyers can’t sell their “No one is teaching eff ective view- “As a trainer, I would like to see my stu- units, it is not good for developers as well. ing methods. I always tell negotiators dents do better than me. I’m now groom- Developers should consult agents, who are that they can’t just introduce the fea- ing two of them in my method and I hope on the ground and know market demand tures of a property that buyers can they will be able to make enough money best. Th is is where the professionalism of see; they are not blind,” he says of the to retire in their 30s. It’s something I can’t property agents should kick in.” FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY EP19 FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY EP20 PROPERTY | FEATURE Nobody’s home: Australian boom leaves swathe of empty properties

Foreign buyers reap price gains as vacant homes in Melbourne surge to 82,724, report says

BY ANGUS WHITLEY

ustralia’s three-year property boom is leaving Melbourne awash with empty homes. In the country’s second-biggest city, growing numbers of local landlords and absent over- seasA owners have locked up their properties — forgoing rental income as they focus instead on price gains, a report by Prosper Australia said Wednesday. Some 82,724 properties, or 4.8% of the city’s total housing stock, appear to be unused, said the report, which estimated occu- pancy rates by gauging water usage. In the worst-hit areas, a quarter of all homes are empty, said Prosper. Th e Melbourne-based research group is lobbying for more aff ordable housing through tax reform. Driven by a wave of Chinese buyers and record-low interest rates, average home prices have soared to about A$700,000 A suburban street in Geelong, south of Melbourne. Photo by Reuters (RM2.15 million) in Melbourne and around A$1 million in Sydney. But with prices now ed in the inner suburbs, is also likely to have estate is empty, infl ating prices. Artiﬁ cial scarcity cooling, the empty accommodation also a vacancy problem, said Cashmore. Data on “Th ere is a wall of money that is trying to The report questions the assumption that masks a hidden glut of supply that could water usage at individual apartments isn’t as get into Australia,” Cashmore said. “To fi ght Australia’s property affordability barri- worsen any housing slump. comprehensive in Sydney as in Melbourne, those forces is going to be very diffi cult.” ers can be overcome by building more “Th ose properties need to be utilised,” she said. Cashmore, who also helps fi nd homes as homes. There’s no housing supply cri- said Catherine Cashmore, author of the Surging home prices triggered a boom in a buyer’s agent, is seeing the legacy of that sis, according to Prosper. Rather, unused Prosper report, Speculative Vacancies. “Hav- high-rise construction in Melbourne’s in- foreign investment spree. In some apart- property has created an artificial scarcity, ing property sitting vacant has a very high ner-city suburbs, squashing rental yields and ment blocks in Melbourne, she said entire Prosper said. cost on the economy. It’s very destructive leaving landlords with little incentive to fi nd fl oors have been sold and lie vacant. She Sudden property price declines or an to our national prosperity.” a tenant, said Cashmore. said it’s not unusual for her to walk through economic slowdown risk unmasking the a building and be told the owners are from vacant supply. Owners would start to sell Water usage Chinese buyers Asia and rarely seen. up or look for rental income to cushion the Th e study, now in its eighth year, assessed Analysts at Credit Suisse Group AG estimated “It’s a growing problem,” said Cameron blow from falling prices, she said. 1.7 million residential properties in and this year that Chinese buyers were on course Kusher, a Brisbane-based analyst at proper- “Suddenly, you find there’s no one around Melbourne during 2014. Th ose us- to take out 20% of new homes across Australia ty information provider CoreLogic Inc. “If there to buy it or nobody to rent it. That’s ing less than 50 liters of water a day — the in 2020, up from the current 15%. these properties aren’t being occupied, it a common pattern in a housing crash,” rough equivalent of one shower and a fl ush While the Prosper report doesn’t identify doesn’t do a lot to fi x overall housing sup- Cashmore said. “What we’re trying to of a toilet — were deemed vacant. overseas-owned properties, it said a “sig- ply. It’s always going to be the risk when do is it to make it visible before it hap- Sydney, where high-rise blocks have sprout- nifi cant proportion” of foreign-owned real you sell to off shore investors.” pens.”— Bloomberg Are all millennials scared of commitment?

BY ALEXANDRA GIBBS economic growth can address some of this managing director of Lamudi, an online real pent-up demand.” estate classifi eds website, tells CNBC via email BUYING a house is undoubtedly the big com- A BoAML survey found the most common that millennials in the emerging markets feel mitment that’s an integral part of growing up reasons not to buy were that millennials wer- “more confi dent than ever” due to increased — until now, that is. Have millennials become en’t ready or couldn’t aff ord it. purchasing power and technology. too apprehensive to purchase property? Th is However, this property stagnation could “Th anks to growing economic empow- is the question analysts are asking. turn. “Rising rents and a possible increase in erment, younger generations are looking Prices for both buying and renting in cities interest rates later this year may drive millen- to property for a safe fi nancial investment, around the world are skyrocketing. However, nials to buy. US rents have increased 15% in although many wish to keep their options it’s not just the money that may be putting the past fi ve years versus only an 11% rise in open by fi rst renting.” millennials off commitment. Buying means the income of renters.” Hermann says millennials in emerging stability, i.e. settling down. Renting means combined US$1.4 trillion (RM5.99 trillion) [subhead] We are the world markets used to be considered a “hard sell” fl exibility: there’s nothing tying you down. on home purchases. Are millennials scared to commit? It de- for real estate, due to lack of spending power, Th at’s the attraction for millennials. BoAML expects the number of homeowners pends on where they live. It’s easy to assume but technology has “removed a number of Co-founder and managing partner at Digital in this age bracket (25-34 years) to recover to millennials belong to the developed world, yet, barriers” for them by facilitating their explo- Risk, Jeff Taylor, tells CNBC that if millennials pre-2008 levels and top 16.5 million by the end BoAML’s Nahal says out of 2 billion millenni- ration of the property market online. are at all “hesitant” of their social situation, of 2019, from the trough of 15.5 million in 2012. als worldwide, 86% live in emerging markets. “Education is the key when it comes to en- they’ll rent until they’re comfortable. However, some factors — that seem to be Living under diff erent circumstances means couraging millennials to buy property. With [subhead] Born in the USA (from 1990 universal to other parts of the world — are a diff erent angle on property. information literally at the fi ngertips of young onwards) in the way. Also, in emerging economies, Nahal says potential customers, off ering as much insight Head of thematic investing at Bank of Amer- “Millennials’ demand for homes has stag- that 56% to 60% of millennials in the BRIC into the benefi ts, processes and paperwork ica Merrill Lynch (BoAML), Sarbjit Nahal, nated due to cyclical economic factors, like countries (Brazil, Russia, India and China) involved in purchasing a property will make believes American millennials still “value high unemployment rates, lack of wage growth live with immediate family. He adds BoAML millennials feel more comfortable with buy- homeownership”. He tells CNBC via email that and available credit,” says Nahal. saw a “greater lag” in household formation ing,” he says. — CNBC the number of new millennial US households “As such, millennials have deferred getting in China, as millennials are staying single formed from January 2014 to December 2018 married and forming families, which has de- for longer. is expected to reach 8.3 million, spending a layed, not derailed, homeownership. Stronger Paul Philipp Hermann, co-founder and For more, visit www.cnbc.com FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY EP21 FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY EP22 PROPERTY | FENG SHUI

Authentic feng shui focuses on how qi ﬂ ows through your living environment.

Colour aﬀ ects the overall qi (positive energy ﬂ ow) of a property by just 10% to 15%. A classical feng shui practitioner can determine the good and bad sectors of your home. More than just about

Congratulations to those who won tickets for Joey Yap’s Feng Shui seminar decorating your property in JB (Dec 12). Enter now for tickets to seminars in PJ (Jan 9 & 10) & Penang (Jan 24).

Bring your living environment into equilibrium with its surroundings Find out how at theedgeproperty.com

espite the rising cost of liv- use of costly symbolic trinkets rather than and decorating your home with ornaments ing, the increasing number elemental materials in themselves. depicting mythical animals. Th e general rule of homebuyers has caused For example, if you have evaluated your here is to be practical and not make things a surge in housing projects. house using the feng shui method of Xuan diffi cult for yourself. Much deliberation now takes BY DATUK Kong Flying Stars and discovered the part A classical feng shui practitioner can de- place among family members JOEY YAP of your property that is aff ected by the ex- termine the good and bad sectors of your Don a suitable future home for them and their tremely unfavourable 5 Yellow Wood Star, you home so you can decorate accordingly, com- children because property is no longer af- may weaken its negative eff ects by placing a plimenting or weakening elements in the fordable for the average wage earner, even metal object there. Th is can be a metal wind style and theme you desire. if the options appear countless. Apart from cuses on how qi fl ows through your living chime, fridge or metal furniture. Unlike in Get in touch with Joey Yap Consulting the price of a property, the many factors environment, and how this aff ects you. Re- pop feng shui, this object does not need to Group at +603 2284 1213 or email consulta- that now influence homebuyers include se- gardless of your awareness of this fl ow, it will look like a mythical creature to chase away [email protected] for a personal property curity, commuting time and more recently, aff ect you, unlike pop feng shui. Th e study and negative qi or evil spirits. As long as the el- consultation. feng shui. practice of feng shui is about harnessing and ement of metal is present in that sector of Unfortunately, the popular but mistaken tapping into the forces of nature to promote the property, it will weaken the eff ects of the impression that most people still have of feng the wellbeing of the residents of a home. 5 Yellow Wood Star there. Datuk Joey Yap is the world’s leading Chinese shui is that it involves painting their homes a So, you would be well advised to leave Th e same principle applies to the place- Metaphysics consultant and bestselling author certain colour and placing decorative items interior design to the interior designer be- ment of aquariums when it comes to adding of more than 160 books which have sold around it. In fact, colour aff ects the overall cause how you furnish your home is not water features to a home. Th e dimensions of over four million copies worldwide. He is qi (positive energy fl ow) of a property by what feng shui is all about. What plays a far the aquarium must be proportionate in order chief consultant of the Joey Yap Consulting just 10% to 15%. Th is practice of pop feng larger role in determining the ideal sectors to enhance or counter the qi in a particular Group and founder of Mastery Academy Of shui is the result of its commercialisation as of a home for its diff erent occupants are the sector of the home — but the type of fi sh in Chinese Metaphysics. His nearly two decades a fashionable idea. Pop feng shui is largely landforms that surround it, and the Stars the aquarium is irrelevant. Any species of of professional consultancy includes working orientated towards positive thinking and the that aff ect these landforms. fi sh in any number (maybe you might need with Microsoft, Sime Darby, UEM, Prudential psychological eff ects of ‘good luck’ charms. For example, in identifying a part of the more smaller fi sh and fewer large ones) are and Citibank. He has students in more than Th us, decorating your home with Chinese house that is favourable (or not) for a family able to keep the water in motion, which is the 30 countries. good fortune symbols is often mistaken for member, a classical feng shui practitioner sole objective of this feng shui application. feng shui. However, while these are a part of is able to suggest the use of an elemental Th e application of feng shui to a home is Chinese culture, they are not a part of Chi- material that enhances its positive eff ects all about bringing one’s living environment nese feng shui principles but play a merely or a remedy that alleviates the negative into balance with nature. While renovation If you have any feng shui-related questions psychological role in promoting positive ones. Pop feng shui is only superfi cially is sometimes required to harness the best qi for Yap, please go to the Tips section of thinking. related to classical feng shui in this regard for every occupant in the home, the applica- theedgeproperty.com On the contrary, authentic feng shui fo- because the former often prescribes the tion of feng shui doesn’t mean refurnishing FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY EP23 EP24 FRIDAY DECEMBER 11, 2015 • THEEDGE FINANCIAL DAILY

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