YEAR END EDITION 2018

by Henry Butcher

COMMITTED TO DELIVER PLUS New Launches in Value Map Series: Midnight in Japan LEGO Mini Expo & The Best (Part 2) An Annual Dinner celebration “Malay Favourite” Food Festival Q3 2017 versus Q3 2018 with Henry Butcher Malaysia KDN PP18893/11/2015(034373 KDN Branded Residences

The Ritz-Carlton Legendary Service

Exclusive Owners-only Luxury Amenities

Freehold

Neighbouring KLCC Petronas Twin Towers Actual show home A HERITAGE OF LUXURY LIVING

A WORLD LEGENDARY BRAND Besides being equipped with advanced amenities and features, The Residences are The Ritz-Carlton Residences, Kuala Lumpur, managed by a dedicated team of Ritz-Carl- Jalan Sultan Ismail, are designed to be the ton ladies and gentlemen who are on hand to hallmark of luxury living. cater to the residents’ every need, in accordance with the legendary brand’s Setting the standard for service and innova- standards, providing a lifestyle that delivers tions in a premiere living experience, The privacy and comfort for each homeowner. Ritz-Carlton brand has built its reputation for impeccable service and attention to detail. REDEFINED EXPERIENCE

Grand Lobby A PRESTIGIOUS DEVELOPMENT Homeowners at The Residences and their families are sure to enjoy an indelible journey Ideally located in the dynamic heart of the of experience with the tailored services and capital city, The Ritz-Carlton Residences are privacy: one of the two towers at Berjaya Central Park, • Privileged ownership in the legendary a prestigious development adjacent to the brand renowned KLCC Petronas Twin Towers and • Premium management by The Ritz-Carlton KL Tower. The development is within the • A heritage of luxury living with personalize vicinity of corporate and commercial centers, services including 24-hour concierge services, shopping districts, international hotels, and a la carte services such as housekeeping famous tourist and entertainment spots. and more • Privacy ensured with CCTV surveillance The Residences consist of 288 homes: system and card access system to residential lobby & dedicated floors • Typical Units: 1,023 sf - 2,142 sf (1 Bdr, 2 Bdr Infinity Lap Pool & 3 Bdr) The Residences are ready to move in, with • Penthouses: 2,605 sf - 4,284 sf (3 Bdr & actual show homes for viewing. 4 Bdr)

CONTACT Christine Chua REN09437 012-3142864 Nigel Chin REN09436 012-3960307 Linda Ooi REN09433 012-2363065 Residence Lounge

The Ritz-Carlton Residences, Kuala Lumpur, Jalan Sultan Ismail are brought to you by one of Malaysia’s largest conglomerates, Berjaya Corporation Berhad. Developer : Wangsa Tegap Sdn Bhd (Company No. : 185589-W) (A wholly-owned subsidiary of Berjaya Corporation Berhad) Property Gallery : 02-20, Level 2, West, Berjaya Times Square, No. 1, Jalan Imbi, 55100 Kuala Lumpur, Malaysia. Head Office : Level 12, East, Berjaya Times Square, No.1, Jalan Imbi, 55100 Kuala Lumpur, Malaysia. Tel : (6)03-2142 8028 / Fax : (6)03-2143 2028 | Email : [email protected] | Website : www.rcr-kl.com The Ritz-Carlton Residences, Kuala Lumpur, Jalan Sultan Ismail are not owned, developed or sold by The Ritz-Carlton Hotel Company, L.L.C. or any of its affiliates. Wangsa Tegap Sdn Bhd uses The Ritz-Carlton marks under a license from an affiliate of The Ritz-Carlton Hotel Company, L.L.C. COMMITTED TO DELIVER

our internal accounting’s cross-checking Accounts Managers/Executive (AEM) procedure and by March 2019, we will Convention. They are held in appreciation The year 2018 marks another remarkable be implementing a no-cash policy in all of the hard work and commitment of all year for Henry Butcher Malaysia (Mont of our assignments to minimise the risk personnel as well as to inform about the Kiara) Sdn Bhd (HBMMK) when we of cash loss and simultaneously reduce latest updates in the property management managed to take over a significant the administrative workload. Through industry. number of new assignments comprising this policy, the onsite management office At the Conventions, we invited several of residential, commercial, mixed will from then on only accept payment external speakers to share their development and facility management. via cheque, credit/debit card or online experience about managing clients, issues And out of that, one of our assignments has facilities. involving architectural designs as well also been recognised as the Gold Winner Besides the aforementioned, the Board as best practices in both accounting and for Above 10 Years category in EdgeProp of Valuers, Appraisers, Estate Agents and auditing. We hope these annual events can Malaysia’s Best Managed Property Awards Property Managers Malaysia has also inspire the team of HBMMK as a whole 2018 organised by The Edge Property Sdn opened the door for all practising property and motivate us to work more efficiently Bhd. Despite the very tough competition, managers to register as qualified property together to achieve our company’s goals. our onsite team has proven to be the best managers. This means more competition Moving forward, we are anticipating amongst the best in the said category. I will be coming into the market. But I an intensive implementation of our IT strongly believe this achievement would am confident that our team will keep on solution as this will ease and expedite not be possible without the support of our striving to improve the quality of our the communication between unit owners committed staff from each level, that is services and to ensure HBMMK stands and the management. We will also focus from handymen and technicians right up distinct from the rest of the players. on optimising the usage of operational to the managers and directors, who have I believe that in order to go far in the data and to further analyse it so that all worked tirelessly around the clock in property management industry, it is not clients’ expectations could be met more upholding the company’s newly launched about how skillful or knowledgeable you effectively and efficiently. By doing this, I tagline - Committed to Deliver. are but how good your attitude is. Property am most certain our company can elevate Looking back, the company is definitely management is a service industry, hence our great work to the next level. blessed with persistent growth since you’d need to be prepared to serve the With 2018 coming to an end, I would its official establishment in 2015. This clients, patiently and professionally, and also like to take this opportunity to wish blessing however comes with tonnes of of course to take action in accordance to everyone a very Merry Christmas and new challenges and the year 2018 is no the clients’ and authority’s direction. Happy New Year 2019! exception when the need to improve On a separate note, I’d also like to share the financial management has become that we have conducted three major Low Han Keong especially crucial in the property events in the final quarter of 2018, namely Director, Facilities & Asset Management management industry. In response to the Annual Dinner, Building Managers/ Mont Kiara this, we have increased the frequency of Executive (BME) Convention and

YEAR END EDITION 2018 OUR SERVICES Email: [email protected] Tel: 603-26942212 Fax: 603-26941292 PAHANG | Kuantan | MALACCA | Email: [email protected] Melaka | Valuation Retail Consultancy TERENGGANU | Kuala Terengganu | Tel: 603-26942212 Fax: 603-26943484 Tel: 603-91305550 Fax: 603-91304003i çï =e~å=hÉçåÖArt Consultancy PERAK | Ipoh Email: [email protected] Email: [email protected] Tel: 603-26913089 Fax: 603-26021523 KELANTAN I Kota Bharu | SABAH | Email: [email protected] Kota Kinabalu Project Marketing Facilities & Asset Management | Sandakan | Taiwan | SARAWAK | Kuching Tel: 603-26942212 Fax: 603-26925771 Tel: 603-62053330 Fax: 603-62062543 OUR OFFICES | Miri Email: [email protected] Email: admin.assetmgmt@henrybutcher. Publisher com.my | | Ampang | Designed by Rightwiz Sdn Bhd Henry Butcher Malaysia Sdn Bhd Real Estate Agency Mont Kiara | 25, Jalan Yap Ah Shak, Tel: 603-26942212 Fax: 603-26941261 Plant & Machinery Consultancy NEGERI SEMBILAN | Seremban | Printed by Percetakan CL Wong Sdn Bhd Off Jalan , Email: [email protected] Tel: 603-26942212 Fax: 603-26943484 KEDAH | Alor AS-84, Jalan Hang Tuah 4, 50300 Kuala Lumpur Email: hbmalaysia_pnm@henrybutcher. Setar | Kulim | PENANG | Island | Butter- Taman Salak Selatan, Cheras, T: (03) 2694 2212 Market Research & Development oom.my worth | Seberang 57100 Kuala Lumpur. E: [email protected] Consultancy Perai | JOHOR | Johor Bahru | Kluang | W: www.henrybutcher.com.my Tel: 603-42702072 Fax: 603-42702082 Auctions & Tender Sales Muar | Pontian |

3 / HERALD YEAR END EDITION 2018 New Launches in

KUALAQ3 2017 versus Q3 2018. LUMPUR

SENTUL 2018 Highrise RM500 - 3 RM850 2017 2018 Highrise RM300 JLN KUCHING Highrise 2 - RM350 Highrise RM500 RM450 MONT KIARA - 1 RM400 - Highrise 1 RM500 RM660 36 21 3 - RM1500 Highrise RM600 - 1 RM700

Number of New Project Launches DUTAMAS Highrise RM800 - AMPANG 1 RM900 Highrise CITY CENTER RM1600 DAMANSARA - HEIGHTS Highrise 1 Highrise RM900 RM1700 27,693 10,745 RM 800 - 1 - 1 RM1000 RM1000 Highrise RM1900 - 1 RM2100 Number of Units Launched in New Projects

20 16 Landed CHERAS 16 RM700 Highrise 14 OUG - RM500 1 RM800 - Highrise 2 RM1000 12 RM350 - 9 2 RM550 8 7 Units 4 4 4 2 1 0 0 0 Highrise Apartment / Flat Condominium Serviced Soho / Sofo / Terrace / Super RM700 Residence / Sovo / Soso Link - 1 RM800 Serviced JALAN LAMA Apartment Highrise RM850 Types of Projects - 1 RM1200

Location and Number of Projects

7 6 6 6 5 5 5 5 4 4 4 4

Units 3 3 3 3 3 2 2 2 1 1 1 1 0 0 Jan Feb Mac Apr May Jun Jul Aug Sep Total Launches by Month

4 / HERALD YEAR END EDITION 2018 0 9 2018 appears to be a period where preferred to err on the side of caution. 27,693 10,745 housing developers in Kuala Lumpur Furthermore, the market sentiments were Units Units adopted a more cautious approach in weak and developers were still trying to launching new projects. Based on the data clear the unsold stock carried forward from compiled by us, we noted that there was projects launched in the previous years. Strata Strata Landed Landed a significant dip in the number of new New projects launched in land projects launched in the first nine months scarce Kuala Lumpur are typically strata of the year compared to the same period residential properties with condominiums 100 5% % 95 % the year before. Our records showed and service apartments forming the bulk

that there was a total of 36 new projects of the units launched. For Q1 to Q3 2017,

Percentage

Percentage

launched in the first nine months of 2017 our data reveals that all the 36 projects

but for 2018, there was a drastic decline of launched were strata properties. The same about 42% to just 21 new projects. pattern was observed in 2018 although Strata Strata In terms of number of units, the drop interestingly there was one terrace house Landed Landed was even more pronounced. Our records project launched during that period. showed that there were 27,693 units In terms of residential types,

0 1 launched in the first nine months of 2017 condominiums and serviced apartments, 2 0

but the number declined to a mere 10,745 not surprisingly feature prominently for

36 21

units in the same period in 2018 (a drop developers for both 2017 and 2018. In

Projects Projects

of about 61%). The drop in the number of 2017, 38% and 44% of the projects were of

new launches is however not unexpected condominiums and serviced apartments as there were a lot of uncertainties in respectively whilst in 2018, a similar trend Strata Strata Landed Landed the first half of the year leading to and was observed as 33% of the new projects immediately after GE14 and developers were condominiums and about 43% were

Unit Sizes $ Pricing Price Per Square Feet (PSF) 16% 8% 4% 4%

7% 6% 1,501sf-1,800sf

2% 0%

1,801sf-2,000sf

5% 6% Above 2,000sf

5 / HERALD YEAR END EDITION 2018 New Project Launches by Location brackets, respectively. We also noted that a higher number of 2017 2018 projects launched in 2018 were at higher price points of RM1,000,000 above (31% in 2018 vs 20% in 2017). At the same time, 19% of the projects had units within the RM800,000 to RM1,000,000 price bracket and 22% within the RM600,000 to RM800,000 bracket. This comes as a surprise as the market sentiments were generally still weak in 2018. Nevertheless, it has to be remembered that land available in Kuala Lumpur for development are scarce and more expensive and as such, the prices of the houses launched had to commensurate with the higher land cost. For Q1 to Q3 2018, there were 10 projects (36%) offering units priced at RM751 to RM1,000 per sq ft, followed by 8 projects (28%) offering units priced at RM501 to RM750 per sq ft. This differs from the previous year, as there were then serviced apartments. However, there number of new projects launched in 2017 15 projects (34%) which offered units at were no SoHo/SoFo/SoVo/SoSo projects whereas in 2018, the honour went to the a more reasonable bracket of RM501 to launched in 2018, as opposed to 2 projects month of March. RM700 per sq ft, and 12 projects (27%) launched in the previous year. Zooming in on the size of the units with prices below RM500 per sq ft. The first three months of 2017 revealed launched, we noted that in 2017, most Location-wise, the former mining a pattern of a gradual monthly increase of the units launched have built-up areas township of appeared to be in terms of number of new launches. of between 800 and 1,000 sq ft (24 units) developers’ area of focus in 2017, with 7 However, in 2018 the number of new and between 1,001 and 1,200 sq ft (20 brand new projects in the area, followed project launches declined from January to units). Housing developers maintained by Bukit Jalil with 3 projects. In 2018, the February, and then spiking back in March, this formula in 2018 as the units launched interest seems to have shifted to Mont making it the most active month with 6 during this period were also within this Kiara with 3 projects, followed closely by project launches. Nevertheless, this was range of built-up areas. These sizes are quite Setapak, Cheras and OUG with 2 projects short-lived as developers took a step back standard for up-and-coming condominium each. for the next two months as the number and service residence projects as they of launches plunged in April and May, are aimed at smaller families or even as possibly due to the general lack of interest an investment piece given the projects’ to make substantial financial commitments locations being within the city centre. prior to GE14. Developers came back to In terms of pricing, our data revealed the market with five new launches in June that approximately 42% of the new projects to latch onto the feel-good factor after the launched in the first nine months of elections which unexpectedly resulted in 2017 offered units priced at RM600,000 a change of government. The pace of new and below whereas the figure dipped to launches however was not sustained and only 28% in 2018. 20% of the projects slowed down through July and August. were available within the RM800,000 to September was the month with the most RM1,000,000 and RM1,000,000 above

6 / HERALD YEAR END EDITION 2018 Koi Zefer Kinrara Hill Ohako TAMAN MEDAN TAMAN OUG Atmosfera Twinz Villamas Kinrara Court Kinrara Kinrara Parc Ria Palm Impian Low Cost Sri Ville Terrace *Palm Bayu Heights Ville Kinrara Puchongmas Sri Putri Sunway Taman Kinrara Koi Vista Sri Legian Lavendar Suria Sri Cempaka Kinrara Anggerik

Kesuma TAMAN LTAT KLH Mayang Apartment Sri Sri Kenanga Seri BANDAR Teratai D’Cahaya Kasturi The Zest *Skyz 8 Kinrara Sri Avilla Mekar 10 Kinrara BANDAR Vistaria KINRARA 5 SkyPod Sutramas Taman Sri Puncak Kesidang Kinrara DUTA KINRARA *Duet Sierra Melur PUCHONG Enggang

Rimba Taman Damai Utama

LEGEND

VALUE MAP Under Construction Completed PUCHONG Price (PSF) Above (PART 2) Below 200 201-400 401-600 601-800 800 Projects Under Construction (Built-Up SF) * = Asking price

QUICK STATS Project Minimum Maximum Build Up Price (SF) (RM PSF) Ohako Residence 815 1,002 Maximum Parc Ville 1225 1,323 1,730 800

Residensi Puchongmas 900 - Minimum 577 185

Ten Kinrara 646 1,281 Median 1,002 381 Twinz Residence 871 1,226

7 / HERALD YEAR END EDITION 2018 Completed Projects (Built-Up SF) In our previous issue, we kicked off our Puchong feature with Puchong North Project Minimum Maximum encompassing Bandar Puchong Jaya, 8 Kinrara Residence 623 1,069 and the surrounding Atmosfera Condominium 1,282 1,456 neighbourhoods. In this issue of our Value Avilla Apartment 969 1,033 Map series, we move on to the Southern D’Cahaya Apartment 904 - part of Puchong covering residential *Duet Residence 1,029 1,298 areas such as Bandar Bukit Puchong and Enggang Apartment - 678 Taman Saujana as well as the residential Impian Heights Condominium 1,066 1,227 areas closer to the Damansara-Puchong Kesuma Apartment 893 - Expressway (LDP) and all the way up to Kinrara Court 853 891 the Puchong South toll plaza. Kinrara Low Cost Flat 646 - As Puchong grew and attracted more Kinrara Putri Apartment 786 797 interest from developers, the way was Kinrara Ria Apartment 807 926 paved for the birth of several major KLH Apartment 904 1,012 townships in Puchong South like: Koi Kinrara Condominium 1,063 1,221 Koi Legian Condominium 1,044 - Bandar Bukit Puchong (1,290 acres) Mayang Apartment 833 904 launched in 1992 by TAHPS Group. Melur Apartment 603 - (710 acres), Palm Terrace Apartment 781 - *Palm Ville Apartment 1,004 1,040 launched in 1997 by Kenshine Rimba Residence 1,356 1,543 Corporation (a subsidiary of Talam Seri Kasturi Apartment 868 872 Corporation). Sierra Residency 889 967 Saujana Puchong (423 acres) launched Skypod Residences 634 1,249 by Talam Corporation (completed *Skyz Residence 1,162 1,561 later by IJM Corporation). Sri Anggerik 1 & 2 Apartment 786 829 Sri Bayu Apartment 1,173 1,281 These townships are popular as they are Sri Cempaka Apartment 732 818 located away from the hustle and bustle Sri Kenanga Apartment 915 1,023 of the city centre and enjoy the luxury of Sri Kesidang Apartment 850 - suburban peace and quiet, yet not too far Sri Mekar Apartment 1,109 1,130 from the city. In fact, the above townships Sri Teratai Apartment - 797 were the result of heightened demand for Sri Sunway Apartment 797 818 new developments given that many Klang Suria Kinrara Apartment 712 - Valley residents were convinced by the Sutramas Apartment 840 850 growth which have taken place to make Taman Damai Utama Apartment 650 - Puchong their home. Taman Kinrara Seksyen 2 Apartment 577 764 The completed highways like the Taman Puncak Kinrara Apartment 646 753 Damansara-Puchong Expressway (LDP), The Zest Condominium 1,119 1,206 South Expressway (SKVE), VillaMas Apartment 1,098 1,163 Vista Lavendar Apartment 852 1,016 North-South Expressway Central Link Vistaria Apartment 810 - (ELITE) and later - Zefer Hill Condominium 1,356 1,730 Expressway and (MEX) played key roles in enhancing accessibility as did the three major trunk roads of Jalan Puchong, Jalan and Jalan Putra Permai, connecting all major

8 / HERALD YEAR END EDITION 2018 townships in the area. The new Ampang completed projects fetched above RM800 Zentro Residence (by IOI Properties LRT extension (from through per sq ft. Group Berhad) is another development Puchong ending at ) and As for the newer projects launched launched in 2017 and due for completion MRT 2 (from to Putrajaya between 2010 to 2018, developers seemed in late 2020. The project offers units with through Serdang) also improved to have shifted back to bigger spaces, sizes between 764 sq ft to 990 sq ft and is connectivity to the area with the rest of offering units between 600 to 2,400 sq ft priced between RM404,000 to RM533,000 Klang Valley. in size. ie. about RM530 psf. Puchong South comes with several Based on our survey of the 4 ongoing commercial centres and modern projects, half of them were priced within Be sure to stay tuned for the next edition amenities for the growing community. the RM401 to RM600 per sq ft category of our value map series as we look into the Residents have access to the nearby whilst the other 50% are priced within the third part of Puchong — Puchong East. educational institutions such as Taylor’s RM601 to RM800 per sq ft price band. International School Puchong, Taylor’s The newer projects which were Lakeside University, Binary University, launched at a higher price point, of up to and the Puchong campus of Rafflesia RM800 per sq ft like Skyvilla @ D’Island International & Private Schools. Adding Residence, offer units and modern on to the convenience here are the many amenities aimed at urbanites looking shopping malls like Tesco Hypermarket for newly developed residential areas. Bukit Puchong, AEON Big Hypermarket, Skyvilla @ D’Island Residence for example M Square Mall, Giant is an island-themed master development Hypermarket, IOI Mall, IOI City Mall, by LBS Bina Group located in D’Island and more. The Multimedia University- Residence which is within 25 minutes MMU Cyberjaya bordering Puchong from Pusat Bandar Puchong and Bandar is also just a mere 8km away from the Puteri Commercial area. Epic Residence southern tip of Puchong. located in one of Puchong south’s prime Based on our research, we observed location in Bandar Bukit Puchong by that there were a total of 29 completed TAHPS Group Bhd is another newer high rise strata residential projects in lifestyle-themed entrant. Puchong South. Of these, about 45% (13 Our research also shows that 4 projects) were completed between 2000 to new projects are at various stages of 2009, while 8 projects were completed in construction and scheduled to be the 1990’s and another 8 projects between completed between 2019 and 2021. Saville 2010 to 2018. D’Lake is a lakefront project by MKH Low medium and medium cost Berhad located near the Ayer Hitam Lake condominiums priced between RM201 offering units with sizes ranging between to RM400 per sq ft with built-up areas 645 sq ft to 2,260 sq ft and priced between between 600 to 1,200 sq ft form the largest RM421,000 to RM1.25 million ie. within category commanding 52% out of the 29 the RM554 to RM652 per sq ft bracket. projects. This is followed by the the low This project promises a nature-centric and low medium cost apartments priced location. under RM200 per sq ft (up to 24%) with Skylake Residence by LBS Bina Group more compact built-up areas ranging Berhad in Putra Perdana offers units between 600 and 800 sq ft. priced between RM290,000 to RM620,000 15% of the projects were within the ie. between RM523 to RM584 per sq ft. Set higher price band of RM401 to RM600 per to be completed in 2021, the units come sq ft whilst only 6% were priced between with sizes ranging between 554 sq ft to RM601 to RM800 per sq ft. None of the 1,063 sq ft.

10 / HERALD YEAR END EDITION 2018 MIDNIGHT IN JAPAN An Annual Dinner celebration with Henry Butcher Mont Kiara. Henry Butcher Malaysia (Mont Kiara) celebrated their annual dinner themed “Midnight in Japan” at the Four Seasons Hotel Kuala Lumpur on the 27th of October 2018. The evening kicked off at 7pm with guests arriving in beautifully adorned Japanese-inspired apparels like the ninjas, geishas, Harajuku fans etc, to match the luxuriously decorated Four Seasons Hotel Kuala Lumpur ballroom transformed into a Japanese paradise, ballroom. following the theme of the night, “Midnight in Japan”. The evening marked an important milestone as HBMMK commemorated the launch of its new tagline - Committed to Deliver, by Henry Butcher stalwarts Mr. Lim Eng Chong (Director), Mr. Long Tian The organising team behind Henry Butcher Chek (Director), Mr. Tang Chee Meng Malaysia (Mont Kiara) annual dinner did a (Chief Operating Officer, Agency and fantastic job bringing Japan to Kuala Lumpur Project Marketing) and Mr. Low Hong The Geisha Dance played a prelude to the dinner which started the night off with for the special occasion for everyone to come a bang. together with good food and great company. Keong (Executive Director, HBMMK). The launch was also accompanied by a corporate video and another specially dedicated appreciation video to Mr. Low by his team as a token of gratitude for his impeccable leadership and service in the last 15 years. Henry Butcher Director Lim Eng Chong welcomed all of the guests Low Hong Keong, Director of Facilities and Asset Management and thanked the staff members for their continuous effort in making at Henry Butcher Mont Kiara presenting his opening speech Midnight in Japan was a night to Henry Butcher Malaysia (Mont Kiara) a success. for the evening. remember with performances like a geisha dance just before the 8-course dinner, Q&A sessions and jokes by the high spirited emcee, an enthralling Japanese drum performance in the second half of the evening and prizes for Best Dressed, Best Team, Longest Service and a lucky draw. Second act of the evening, the Japanese Drum performance Low Hong Keong with team posing for a picture with fellow attendees continued to keep the audience in awe. of the evening, all dressed up in their Japanese-inspired attire.

Eminent VIPs of Henry Butcher launching the new tagline and corporate video for Henry A merry snapshot of the attendees at the end of the evening, that summed up HBMKK Annual Butcher Malaysia Mont Kiara. Dinner 2018 at Four Seasons Hotel Kuala Lumpur.

11 / HERALD YEAR END EDITION 2018