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Not Too Far Away

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Not Too Far Away MAKE BETTER DECISIONS FRIDAY OCTOBER 16, 2015 ISSUE 2026/2015 A PULLOUT EVERY FRIDAY WITH Read this copy online @ theedgeproperty.com MAKE BETTER DECISIONS PP 9974/08/2013 (032820) BUDGET 2016 WISH LIST ep4 NEWS ep6 NEWS ep12 FEATURE ep14 FEATURE Budget 2016 should Penang’s fi rst premium Student rent shines A window on the focus on fi rst-time outlet mall to open in gloomy market natural world homebuyers ahead of schedule KAJANG’S not too far away With the mass rapid transit (MRT) Sungai Buloh-Kajang line Check out a video due for completion in 2017, Kajang, Selangor, is expected of this hot spot at www. theedgeproperty.com to be an increasingly viable place to live. Th e area is set and see current listings for this area on to have three MRT stations — at Saujana Impian, Market Watch EP10. Bandar Kajang and Jalan Reko. See story on Pages ep8 & 9. KENNY YAP/THE EDGE PROPERTY FRIDAY OCTOBER 16, 2015 • THEEDGE FINANCIAL DAILY EP2 PROPERTY | NEWS ON NEWS ROUNDUP Go to theedgeproperty.com for more listings Khazanah takes up space at opportunity to purchase Rumawip Ampang Park Shopping about RM83.6 million according to at www.theedgeproperty.com The Shard houses being off ered at signifi cantly Centre to make way for MRT the its filing with Bursa Malaysia Malaysia’s sovereign wealth fund below market price. station on Oct 12. Khazanah Nasional Bhd will take Glomac’s wholly owned subsidi- up space in Th e Shard in London’s Seremban Prima mall ary, Glomac Maju Sdn Bhd, entered South Bank, according to a London up for sale into a sale and purchase agreement Evening Standard report. with PR1MA for the disposal on Oct 9, Khazanah is said to be among 10 which it said would allow it to unlock tenants of Th e Shard, the tallest in the parcel’s potential value, generate western Europe, which has a 90% income and increase opportunities occupancy rate for its offi ce space. for immediate and/or future acqui- Rental rates at the building are as sitions of more strategic landbank. Spotlight on high as £90 (RM579) per square foot Th e parcel was bought by Glomac Eco World’s per year, according to the Financial in 2004 for RM18.04 million. Its net Times which reported in August that Ampang Park Shopping Centre, the book value is RM35.53 million. Liew Tian IT fi rm Leonteq had signed up as a oldest shopping centre in Kuala Lum- Glomac Maju expects proceeds Xiong tenant for the 26th fl oor at that price, Seremban Prima (formerly Seremban pur, will soon be demolished to make from the disposal to be utilised for a new record in rental rates for that Parade), a shopping centre on Jalan way for the Ampang Park Mass Rapid future acquisitions of landbank, and part of London. Dato Bandar Tunggal, Seremban, is Transit (MRT) Station. to fi nance payment of bank borrow- Th e Shard, at 310 metres and 87 up for sale, reported Th e Edge Fi- Mass Rapid Transit Corporation ings, working capital and land-relat- storeys, is in Southwark and forms nancial Daily on Oct 13. Sdn Bhd (MRTCorp) strategic com- ed expenses. part of the London Bridge Quarter Knight Frank Malaysia had re- munications and public relations development. cently called for bids on the 19-year- director Datuk Najmuddin Abdul- PHB to revive plans for former Th e Evening Standard reports that old property, the bidding ends on lah said the land currently occupied Unilever land in Bangsar “the arrival of the Malaysians, who Nov 6. by the shopping centre is being ac- Pelaburan Hartanah Bhd (PHB) in- had RM145.5 billion (£23 billion) of Th e mall was refurbished in 2014 quired by the government under the tends to revive its plans for a mixed- MIEA assets under management last year, and renamed Seremban Prima, ac- Land Acquisition Act 1960 for the use development on a prime parcel celebrates will come as a shot in the arm to the cording to Knight Frank executive purpose of constructing the MRT of land in Bangsar, Kuala Lumpur, property world as the fund looks director James Buckley. It is jointly Sungai Buloh-Serdang-Putrajaya where Unilever Malaysia’s headquar- excellence in to diversify its holdings away from owned by Allstones Seremban Pte Line (SSP Line). ters and factory were previously lo- the industry Malaysia, China, India, and the US”. Ltd (ASPL) and a foreign invest- “Specifi cally, the land is required cated. ment fund. for construction of the underground It is learnt that PHB is currently KL City Hall says most occu- ASPL is an associate company Ampang Park Station, which has to seeking Kuala Lumpur City Hall’s pants of its public housing of Allstones Group Asia Sdn Bhd be in that location for it to be phys- (DBKL) planning permission to com- can aff ord to move (AGA). AGA development man- ically integrated with the existing mence work on the 19.6-acre parcel Kuala Lumpur City Hall (DBKL) agement arm, Blackstone DM Sdn Ampang Park LRT Station. Construc- located near the intersection of Jalan housing committee chairman Da- Bhd, was the development manager tion of the underground station will Bangsar and Jalan Maarof. tuk Rizalman Mokhtar has advised for the asset enhancement works require structures on the surface to Th e parcel is one of the in Bang- occupants of old People’s Housing on the mall. be demolished,” he said. sar, and is bordered by Jalan Riong The Edge Communications Sdn Bhd (266980-X) Projects (PPR) and Public Housing Seremban Prima is a seven-sto- Land ownership records show and Jalan Tanduk. PHB submitted a Level 3, Menara KLK, No 1 Jalan PJU 7/6, Projects (PPA) to upgrade to aff orda- rey building with a total gross fl oor there are 253 strata titles for Ampang fresh proposal to DBKL in June after Mutiara Damansara, 47810 Petaling Jaya, ble homes. Th is will allow them to area (GFA) of 499,066 sq ft and a net Park. MRT Corp, as owner and de- shelving its initial development plans Selangor, Malaysia help 60,000 public housing appli- lettable area (NLA) of 321,800 sq veloper of the SSP Line Project, will three years ago. cants get accommodation. ft. It is managed by Henry Butcher meet the land owner and all other Given the increase in the price of Publisher and Group CEO Ho Kay Tat He said most PPR and PPA resi- Malaysia Sdn Bhd and is currently parties aff ected by the acquisition. real estate over the past three years, dents earned way above the RM3,000 74% occupied. It also has planning “MRT Corp hopes that the process the gross development value of the Editorial a month threshold for public hous- approval for a 250-room hotel with a will be completed by the middle of project is likely to be higher than the For News Tips/Press Releases ing. GFA of 170,000 sq feet, says Buckley. next year,” he said. - Malaysia Insider initial sum of RM5 billion identifi ed Tel: 03-7721 8219 Fax: 03-7721 8038 Email: [email protected] Some occupants use the housing The mall has 210,000 monthly in the original development plan. Th e unit as a store, while some sublet visitors and is in a strategic location Glomac to sell Selangor land previously approved plot ratio for the Senior Managing Editor Azam Aris them, DBKL has found. with public transport. “Th ere is easy to PR1MA for RM145.59 mil site is said to be six. Th e gross fl oor Contributing Editor Sharon Kam Rizalman said this is hampering accessibility, with the Seremban KTM Glomac Bhd plans to dispose of a area would be about 5.1 million sq ft. Editor Rosalynn Poh Deputy Editors E Jacqui Chan, DBKL’s eff orts to assist 60,000 eligi- station and Terminal One bus station 16.9ha parcel of freehold land in According to reports, the land, Wong King Wai ble PPR and PPA applicants on the located 110 meters and 450 meters Ulu Langat, Selangor, to Perba- which belonged to Railway Asset Assistant Editor Lam Jian Wyn waiting list. away respectively, which makes it danan PR1MA Malaysia (PR1MA) Corp, was purchased by PHB in 2011 Senior Writer Racheal Lee He urged city dwellers with a convenient for visitors,” Buckley says. for RM145.59 million cash. for RM150 psf. Land in the neigh- Writers Chai Yee Hoong, Rachel Chew, Hannah Rafee, household income of between Seremban Prima is held on a 99- Th e disposal is expected to yield bourhood is currently valued be- Tan Ai Leng, Natalie Khoo, Ewe Shufei RM3,000 to RM8,000 to take the year lease that expires in 2094. Glomac an estimated net gain of tween RM700 and RM800 psf. Art Director Sharon Khoh Design Team Cheryl Loh, Valerie Chin, Aaron Boudville, Aminullah Abdul Karim, If you have any real estate-related events, email us at [email protected]. Yong Yik Sheng, Tun Mohd Zafi an LAUNCHES & EVENTS Events listed here will also appear on theedgeproperty.com. Mohd Za’abah, Noorain Duasa Corporate Managing Director Au Foong Yee Final block launch of 754 serviced apartment units of win”booth, children’s talent contest, event of the residence. The asking Deputy Managing Director Mesahill@Nilai between 450 sq ft and 1,085 sq ft, lucky draws and magic shows. price for the fully renovated Lim Shiew Yuin selling at RM230,000 onwards. 2.5-storey intermediate link Advertising & Marketing Facilities of the three-block Bangsar linked home house is RM2.5 million.
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