Published every friday

Friday, october 23, 2020 . issue 3140/2020 . PP19055/06/2016(034530) DIGITAL

Is your building THE BEST MANAGED & SUSTAINABLE PROPERTY in Malaysia? J 2 FRIDAY OCTOBER 23, 2020

E NDORSED B Y

M I N I STRY OF HOUSI N G AND L O CAL GOVE R NMENT

Enter now! AWARDS OBJECTIVE Promote sustainable real estate in Malaysia through recognition of: w Malaysia’s best property management practices w Property in Malaysia designed and built for sustainability INTERESTED TO FIND OUT MORE? SIGN NOW OPEN FOR ENTRIES UP FOR A BRIEFING ( NO FEES REQUIRED) SESSION HERE! w All Residential, Office, Mixed Development, Specialised and Retail properties managed in-house/by property building managers w Strata and Non-strata buildings HOW TO ENTER w NEW CATEGORY! Re-purposed buildings Download entry forms on edgeprop.my/awards2021entry

ALSO OPEN FOR SUBMISSION For enquiries, contact EdgeProp.my ( NO FEES REQUIRED) Marketing and Communications at: [email protected] r EdgeProp Malaysia’s Responsible Developer: Building Sustainable Development Award w EdgeProp-ILAM Malaysia’s SUBMISSION DEADLINE Sustainable Landscape Award All entries must reach The Edge Property Sdn Bhd, Level 3, Menara KLK, No. 1 Jalan PJU 7/6, Mutiara Damansara, 47810 Petaling Jaya, Selangor by 5pm, Monday, 11 January 2021

Awards results audited by Deloitte

P R ESENTED B Y | S UPPORTED B Y | Published every friday

Friday, october 23, 2020 . issue 3140/2020 . PP19055/06/2016(034530) DIGITAL

CEO Talks with

Exclusive live interview with Datuk Voon

Tin Yow Live Chief Executive Offcer of IOI Properties Group detaiLS oN PaGe 11

EP 12 ProPErty Chat Extending the Defects Liability Period (DLP) protection post-CCC Location, location, location is no longer the only

EP property buying mantra. Are developers nailing it? 14 Or, are they still trapped in the pre-pandemic times? FEaturE Turn to Pages 7 to 10 to fnd out. British billionaire sells priciest penthouse in Singapore for S$62m edge

e H t assan | assan H aris H Five emerging , edge

e

trends in property H landscape amidst t Kenny Wong Mohd Salem a pandemic UEM Sunrise Bhd Kailany EP Chief marketing officer UDA Holdings Bhd Ho Kong Soon Datuk Chang President and CEO Matrix Concepts Khim Wah 15 Holdings Bhd EcoWorld Group FEaturE Group managing President and CEO director pictures: ecoworld group, kenny yap | group, kenny yap pictures: ecoworld EP 4 FRIDAY OCTOBER 23, 2020

News highlights from www.edgeProp.my dgeProp.my e

| Water disruption in Klang Yen Yeing Low Valley

The Edge Property Sdn Bhd (1091814-P) Level 3, Menara KLK, No. 1 Jalan PJU 7/6, Mutiara File picture of the residents Damansara, 47810 Petaling Jaya, in Flat Sri Kedah fetching Selangor, Malaysia water from the water tankers in an earlier water disruption incident. EdgeProp.my

Managing Director/Editor-in-chief Au Foong Yee Water pollution in Sungai Selangor carry out “flushing” activities to Azam Jamaludin said the investigation

EDitoriAL has caused four water treatment reduce the pollutants. was still in the early stage and water Assistant Editor tan Ai Leng plants to stop operation on Oct 19, Last week, several areas in the samples had to be sent for analysis to Deputy Chief Copy Editor James Chong 2020, causing water supply disruption Klang Valley also suffered from water determine the cause of the pollution. Senior Writer rachel Chew to 1,292 areas in the Klang Valley, disruption due to burst pipes in many Air Selangor corporate Writers according to Pengurusan Air Selangor areas. communications head Elina Baseri Natalie Khoo, Chin Wai Lun, Chelsey Poh Sdn Bhd (Air Selangor). The police opened an investigation told the media on Oct 21 that water Senior Designer Jun Kit In its statement issued at 7.30am paper on Oct 20 to investigate the supply in 1,077 areas or 83% of the For New Launches/Events/ on Oct 19, contamination of the raw cause of the odour pollution in Sungai total 1,292 areas had been fully Press releases/News tips email: [email protected] water resource was detected at 2am in Selangor that affected 1.2 million restored as at 6am on the same day. tel: (03) 7721 8211 Fax: (03) 7721 8280 the morning, thus the water treatment account holders or almost five million The water supply for the remaining ADvErtiSiNg & MArKEtiNg plant phase 1, phase 2, phase 3 and consumers in the Klang Valley. 215 affected areas was restored on Oct Associate Account Director, Advertising & Marketing Rantau Panjang were shut down to Selangor police chief Datuk Noor 22 morning. Heidee Ahmad (019) 388 1880 Senior Account Managers ian Leong (012) 359 1668 Cecilia too (012) 319 7666

Marketing Support & Ad Traffc Madeline tan (03) 7721 8218 Muhyiddin back Anwar syahrin email: [email protected] in offce after Get breaking appointed BUSiNESS DEvELoPMENt completing 14-day property Malakoff MD Manager Nimalen Parimalam (014) 324 3193 home quarantine news delivered Anwar Syahrin Abdul Ajib (picture) has been appointed the managing AgENCY SALES Prime Minister Tan Sri Muhyiddin to you daily via Sales Manager Yassin was back in the office on Oct director of Malakoff Corp Bhd, to take Stannly tan (012) 538 1687 19, 2020, after completing a 14-day WhatsApp! effect from Dec 1 this year, replacing ProDUCt DEvELoPMENt self-quarantine at home which end- its former CEO Datuk Ahmad Fuaad & CUStoMEr ADviSorY ed last Friday. Mohd Kenali, according to exchange Associates filings in Bursa Malaysia on Oct 20, omar Nawawi (012) 537 1687 He resumed duty by first chair- Nazrin Hakimin (017) 368 6061 ing the Economic Action Council 2020. The appointment came after UEM For enquiries and listings meeting held via a special video email: [email protected] conference to discuss the impact of Sunrise made a filing announcing tel: (03) 7733 9000 the Covid-19 pandemic on the Johor Anwar’s resignation as managing EdgeProp.my e-Publication economy. director and CEO from the company is published by the Edge Property TO SUBSCRIBE The meeting was attended by effective Oct 30, 2020. Sdn Bhd. Download it for free at 1. Add +6018 290 2116 Coincidently, his resignation is at www.edgeProp.my Minister of International Trade and Industry Datuk Seri Mohamed Az- to your contact list the time when UEM Sunrise’s board min Ali, Finance Minister Datuk Seri as EdgeProp News. is expected to deliberate a proposal The parks were previously shut made by its controlling sharehold- Te Edge Malaysia Tengku Zafrul Tengku Abdul Aziz, Or scan this QR code. Minister in the Prime Minister’s in adherence to the ongoing two- er, UEM Group Bhd, to merge with Publisher and Group CEO week conditional movement con- Eco World Development Bhd. UEM Ho Kay tat Department Datuk Seri Mustapa 2. Send us a WhatsApp trol order (CMCO) imposed on the Group, a wholly-owned unit of Khaz- Mohamed and Johor Menteri Besar with "NEWS" and EDitoriAL Datuk Hasni Mohammad, as well Klang Valley — which includes the anah Nasional Bhd, holds a 66.1% Editor-in-chief Azam Aris your full name in Federal Territories of Kuala Lumpur stake in UEM Sunrise Bhd. CorPorAtE as senior officials from the Johor Chief Operating Offcer Economic Planning Division. the message. and Putrajaya — from October 14 to Lim Shiew Yuin October 27.

ADvErtiSiNg & MArKEtiNg nrise

Announcing this on Twitter on U Chief Commercial Offcer

Sharon teh (012) 313 9056 aster Management Authority and Oct 18, Annuar said, “CMCO SOP M s MOF: Govt allocates e

general Manager RM247 million to the Ministry of (standard operating procedures) U Fong Lai Kuan (012) 386 2831 more than RM1.7b Home Affairs. allows certain sports. Golf courses Senior Sales Manager to fght Covid-19 “The Government will not hesi- are open. Gyms are open. But public gregory thu (012) 376 0614 Head of Marketing Finance Minister Tengku Datuk Seri tate to increase the financial alloca- parks are closed. JKKN WP (Federal Support & Ad Traffc Zafrul Abdul Aziz said the Govern- tion if needed, especially to meet the Territories state security committee) Lorraine Chan (03) 7721 8001 ment has allocated over RM1.7 bil- needs of the frontliners,” he said in a after consultation with MKN (Na- lion to fight Covid-19 transmission, statement on Oct 19, 2020. tional Security Council) and KKM channelled through 14 ministries (Health Ministry) decided that pub- and state governments, and remains lic parks in FT can be opened with committed in ensuring that the Public parks in FT the condition that there are SOP frontliners as well as the healthcare reopens on Oct 18 compliance controls. Give opportu- system have sufficient funds to pro- Public parks in the Federal Terri- nity for allowed recreation activities tect the people. tories (FT) are now allowed to be only.” There was no further elabora- Of the amount that has been al- opened to the public, similar to gym- tion, reported the Malay Mail. located so far, RM1 billion has been nasiums and golf courses, FT Minis- channelled to the Ministry of Health, ter Tan Sri Annuar Musa announced How do I get past issues of this weekly e-Publication? RM250 million to the National Dis- on Oct 18, 2020. Go to www.edgeProp.my to download for free! EP 5 FRIDAY OCTOBER 23, 2020

News highlightsNews from www.highlightsedgeProp.my from www.edgeProp.my

change that the group, through Utama the its subsidiary Wistron Technol- Subang Jaya is the third city in Selangor biggest Covid-19 ogy (M) Sdn Bhd, has acquired

after Shah Alam dgeProp.my e

Western Digital’s PJ factory. This and Petaling Jaya. |

active cluster in confirmed theedgemarkets.com’s selangor report dated Oct 16. The Utama cluster is currently It is learnt that the site will not the largest active one in Selangor, be redeveloped. Instead, Wistron,

with 194 positive cases, Health which currently operates a facility Yen Yeing Low director-general Tan Sri Dr Noor in Klang, may commence a new Hisham Abdullah revealed on Oct business on the site, as opposed to 20, 2020. It has also spread to six manufacturing of hard disk drives generations. (HDD) operated by its former owner. As for 1 Utama shopping mall, Dr Noor Hisham assured the public that the shopping mall is now clear PNB, KWEST of the virus, reported Malaysiakini. and AREA ink JV “When you get an infection in agreement for a mall, you will return to your home. Then you will start to infect COMPASS @ your friend, your family, etc. Kota Seri Langat “So now the infection has actu- Permodalan Nasional Bhd (PNB), ally involved six generations. That KWEST Sdn Bhd and AREA Group means it is not just the first gen- of Companies (AREA) have en- eration (of cases from the mall). tered into a joint venture (JV) for But those (who) came back home the development of COMPASS @ and then infected others. It has Kota Seri Langat (KSL), a freehold already led to six generations of integrated industrial and logistic cases,” he was reported as saying hub in Selangor. by the news portal. COMPASS @ KSL, which carries Subang Jaya Municipal Council attains city status a gross development value (GDV) of RM1.4 billion, will be built on a The Subang Jaya Municipal Council (MPSJ) attained city status and was declared Taiwan’s Wistron 220-acre site. The industrial and Subang Jaya City Council (MBSJ) effective Oct 20, 2020. confrms buying logistics hub is set to provide a fully integrated suite of services Selangor Menteri Besar Datuk Seri Amirudin Shari said the declaration was Western Digital to logistics and e-commerce op- made after obtaining the consent of the Sultan of Selangor, Sultan Sharafuddin plant in PJ erators, manufacturers as well Idris Shah. Taiwan Stock Exchange-listed as SMEs in the light and medium He said in accordance with Subsection 10 (1) of the Local Government Act Wistron Corp is acquiring West- industries. ern Digital Sdn Bhd’s factory lo- The gated-and-guarded devel- 1976, MPSJ president Noraini Roslan was appointed the Mayor of Subang Jaya cated in Sungei Way Free Trade opment will offer “built-to-suit” effective the same day. Industrial Zone, Petaling Jaya (PJ) warehouses and manufacturing “Hopefully with the declaration of MBSJ, the sustainable development of for RM120 million, according to facilities of sizes ranging from the group’s bourse filing with the 100,000 sq ft to 1,000,000 sq ft for Subang Jaya and its surrounding localities will continue to be enhanced through Taiwan Stock Exchange on Oct sale or lease, and smaller “built- a world-class service delivery system,” he said in a statement. 20, 2020. for-sale” detached factories of Wistron told the stock ex- 8,000 sq ft to 50,000 sq ft.

Y Thailand welcomes isne Covid-19: Approaching Number of daily D foreign visitors with positive cases ‘Special Tourist Visa’ from Oct 19 – 22 25k positive cases Thailand is starting to receive foreign 862 tourists after a ban of seven months, For four consecutive days, Malaysia reported over 800 according to a report by Associated Press positive cases a day, from Oct 17 to Oct 20, 2020. Although 865 847 (AP). on Oct 21, the number of daily cases declined to 732 cases, 732 A total of 39 tourists from Shang- the high number of cases still worries the nation. hai arrived at Bangkok’s Suvarnabhu- As of Oct 22, the total number of positive cases in Oct 19 20 21 22 mi Airport on Oct 20 via the country’s Malaysia stood at 23,804 cases, with 204 death cases. Special Tourist Visa programme in a The implementation of the conditional movement Covid-19: Disneyland “step-by-step” plan to revive Thailand’s control order (CMCO) in Kuala Lumpur, Putrajaya, Selan- will be kept shut for Covid-19-impacted tourism industry. But gor, Sabah and Labuan, starting from Oct 14, didn’t seem HOTLINES there are still strict conditions to be met effective in flattening the curve. ‘foreseeable future’ under this programme. Hence Senior Minister (Security Cluster) Datuk Seri The US authorities have issued guide- Foreign tourists who “commit” to a Ismail Sabri Yaakob announced that all workers from lines for the reopening of theme parks on stay of at least 30 days will be issued public and private sectors in areas under CMCO were to Tuesday (Oct 20), allowing smaller parks 90-day visas that can be renewed twice, work from home starting Oct 22, 2020. to reopen soon but large theme parks AP reported. To ensure economic activities remain running, the For COVID-19 screening like Disneyland and Universal Studios They then have to stay in govern- Ministry of International Trade and Industry, on Oct 21, or tests, contact the Health Hollywood might take another few weeks ment-approved quarantines in a hotel or elaborated only a maximum of 10% of managerial or Ministry’s Crisis Preparedness or months to resume operations, foreign hospital for 14 days, and also confirm that supervisory-level employees in selected fields will be and Response Centre (CPRC) media and newswires reported. they have “arrangements for long-term allowed to work in the office for a restricted time (10am Tel: 03-8881 0200, According to USA Today’s report, large accommodations”. - 2pm) and duration (three days a week) until the end of 03-8881 0600 theme parks were not allowed to reopen the CMCO. and 03-8881 0700 until the county they are located in reach- D an Meanwhile, Health director-general Tan Sri Dr Noor from 8.30am to 5pm daily es the yellow tier, the highest tier of the L Hisham Abdullah said the third Covid-19 wave, which Or Email: [email protected] state’s colour-coded, four-tier reopening

has seen a surge in cases in Selangor since the end of process. of thai Y September, is due to the influx of returnees from Sabah. For more information, go to Disneyland, which is located in Or- He added that Covid-19 infectivity (Rt) in Selangor was CPRC Telegram channel at ange County, is currently in the state’s red thorit

https://t.me/cprckkm U

higher than Sabah at 1.98, which meant that, on average, tier, the second most restrictive tier. The a each infected individual in the state was passing on the guidelines said even though the theme M For queries on the Restricted ris disease to about two more people. parks were allowed to be reopened, they U

However after about a week of CMCO enforcement in Movement Control Order, would be limited to 25% capacity. to the state, the Rt for Covid-19 in the state declined to about call 03-8888 2010. between 1.48 and 1.50. How do I get past issues of this weekly e-Publication? Go to www.edgeProp.my to download for free! EP 6 Friday october 23, 2020 EP 7 Friday october 23, 2020 cover story

Paradigm shift in home-buyinG trends

By Natalie Khoo Matrix Concepts Holdings Bhd

Since the implementation of People are the movement control order still buying (MCO) on March 18 this year, Despite the less direct buying process, one thing people are spending more is for sure — people still want to buy a property that serves their needs. time at home — be it for Matrix Concepts Holdings Bhd group manag- leisure or work. ing director Ho Kong Soon says the group’s prop- erty sales have been up against the grain this year. To reduce health risk, Nevertheless, they have still done quite well since the MCO started mid-March. working and schooling from “We have recorded new sales of RM350.3 mil- home are encouraged, while lion for 1Q2021 ending June 30, an increase of 9.3% compared to the same quarter last financial year. more are opting for food This shows that the demand for our properties is and grocery deliveries and very encouraging amidst the trying times, and the strategies we have implemented during the vari- takeaways. ous MCO periods have come to fruition,” Ho tells EdgeProp.my. Having been confined at In fact, he says that property bookings during home for longer than usual, the MCO till end-June have increased almost 58%, totalling RM827 million. many have begun to rethink “In times of crises, we at Matrix Concepts have what they truly want in a been quite agile in adapting as the tide turns,” Ho adds. home. Is it faster Internet Meanwhile, UEM Sunrise Bhd chief marketing speed? More greenery? A officer Kenny Wong observes amidst numerous It is undeniable safe and well-equipped challenges this year, the company has managed to achieve RM400 million in sales within two months the development? after entering the recovery MCO on June 10. move towards However, the good performance didn’t hap- would Besides changing pen overnight. He notes that early this year, the digitalisation company has pivoted to a “digital-first” strategy requirements for a home, to continue building the company brand aware- improve the way we do people are also changing ness online and maintaining relationships with the way buying decisions customers or potential buyers. things now. — Ho “The MCO has demanded us to be a lot more are made. Previously, agile, disciplined and innovative. However, while homebuyers preferred to we market our products significantly on digital channels through targeted digital and social me- visit sale galleries to have a dia ads and virtual walk-throughs, e-signing is still “feel-and-see” of the show not recognised as far as bank loan agreements are concerned,” Kenny shares with EdgeProp.my. units. In the new norm, Meanwhile, EcoWorld Development Group Bhd other than e-brochures, (EcoWorld) has recorded sales in FY2020 amount- ing to RM1.58 billion as at Aug 31, 2020. The group’s digital presentations and effective share of future revenue from locked-in virtual tours provided by real sales, including its share of EcoWorld Interna- tional’s future revenue, stands at RM4.42 billion. estate agents or developers, The reintroduction of the Home Ownership homebuyers tend to do their Campaign (HOC) in June this year has contribut- own research online before ed to an uptick in buying interest, notes EcoWorld Group president and CEO Datuk Chang Khim Wah. buying offline. CONTINUES NEXT PAGE → EP 8 Friday october 23, 2020 cover story

What do homebuyers want?

← from previous PAGE “We are pleased to report that as at Aug 31, to- tal sales secured in the four months after the MCO have reached RM1.25 billion and the bulk of the sales are backed by end-financing loans secured by the purchasers,” he adds. In the secondary market, real estate agents Stable and Partially- Projects by Green living Well- have felt the pinch as buyers tend to look for new fast internet furnished units reputable environment equipped launches by developers as these projects currently connection developers communal and offer attractive perks. Despite the intense competition, Yit Seng Realty public spaces senior real estate negotiator and team leader Wong Ai Ling says the exemption of the Real Property Gains Tax until end- 2021 for residential properties have helped to spur buying interest. “In the meantime, the central bank has also reduced bank interest rates to as low as 2.88% to 3.1% [for housing loans], which has increased buy- ers’ affordability on their instalment payments,” Ai Ling explains. Low-density Sufficient car Projects Enhanced Amenities projects parks with lower security within a radius Growth in digital maintenance features of 10km transactions charges As increasingly more buyers get more internet-sav- vy, they are comfortable with digital means and tools when looking for houses or putting a book- ing online. UEM Sunrise’s Kenny says, since MCO started, customers have been more open to digital pres- entations and engagements, as well as virtual walk-throughs. “This is very different from the pre-MCO period, leries only to seal the deal or put down book- where buyers would visit sale galleries to have the ings. They are very specific and already have experiential tour in the show units and talk to sale Homebuyers are doing something in mind,” says Chang. representatives to get more property information. Matrix’s Ho also observes that potential “The process of changing from offline to online ‘property shopping’ homebuyers are spending a lot of time online has also helped the company to discover many researching the projects, site developments, hidden talents who reinvent sale tactics by using and making an the surroundings, the property forums and the social media or digital platforms to introduce the online developers’ information before even making an properties and interact with customers online,” appointment to visit the show units. says Kenny. appointment to sale “Also, potential homebuyers can decide which Similarly, UDA Holdings Bhd president and banks or financial institutions they prefer based CEO Mohd Salem Kailany says that UDA has been galleries only to seal on the information online. In fact, this evolu- enhancing their digital platform where customers tion speeds up their decision-making process can experience the products through interactive the deal. — Chang by 50% — to purchase or not at the time of visit applications. to the show units. “Homebuyers could discover ready products “Prior to MCO, many tend to have the “look- and upcoming launches via browsing through the and-see” attitude and there would be many calls UDA Property website and social media platforms. and follow-ups due to this indecisiveness. Post- There, they are able to experience real estate dreams MCO, the potential homebuyers are quite clear through virtual reality tours for our projects such on what they want and what they can afford. as the Anggun Residences Kuala Lumpur and Pi- The whole process becomes easier and quite sonia Ville Johor Bahru,” he adds. efficient,” Ho quips. The company also leverages social media and He also raises a vital point, where the adoption messaging applications to enable homebuyers of digitalisation on certain processes, or online to seek further clarifications or assist them in the documents from sales and marketing promo- buying process. tions to the science of building, will be prevalent. With this, Salem says it could enhance customer “Change is imminent, more so with the onset engagement experience as it enables staff to un- of the pandemic,” stresses Ho. derstand buyers’ concerns and to offer exclusive Moving into the new normal, he sees a need promotion packages to homebuyers. for developers to have an online presence that is Salem also believes that property sales would equipped with interactive functions that com- pick up as soon as both developers and prospec- bine features like live chats, virtual events and tive buyers adjust themselves to the new norm virtual show units. especially in assessing and buying properties on “The turnaround time of responses, deliver- digital or virtual platforms. ies, products and services will also determine “The Covid-19 pandemic may have discouraged the ‘value’ of the developer in the eyes of the people from visiting public places and attending homebuyers,” says Ho, adding that approaches events. Thus, we are continuously improving our to augmented reality and virtual reality will be online marketing not just to promote our products the new norm soon. but also to be one step ahead by allowing payments Meanwhile, Pepite Real Estate’s probationary to be made in secured manners through various real estate agent Zack Ng concurs that more at- online transactions,” Salem adds. tention are being diverted to online platforms, As for EcoWorld, Chang shares the same sen- noting that more listings and views are being timent, noting a rise in savvier homebuyers espe- shared on platforms such as EdgeProp.my. cially in their thriving township of Eco Majestic. “Buyers are more familiar with properties be-

“In line with the new normal where physical group oworld ing promoted on social media platforms. These interaction is discouraged, we see a lot of home- e c platforms are becoming some sort of commodity buyers doing their ‘property shopping’ online and in real estate advertisement,” he adds. making appointments to visit our EcoWorld Gal- CONTINUES NEXT PAGE → EP 9 Friday october 23, 2020 cover story Holdings B h d UDA

← from previous PAGE in financing. Even if they can get the financing, our customers will want to be certain that they are able Bank loan approvals to make the repayments,” says Kenny. Meanwhile, Ai Ling says that banks are filtering still the biggest a lot of applications out of their doorway due to hurdle buyers’ professions in fields such as F&B, tourism, Although buying interest has remained intact, event planning and construction. UEM Sunrise’ Kenny points out that the majority “Those who have experienced pay cuts will see of the buyers are still adopting the wait-and-see their financing debt ratio affected. It is sad to see approach, as they are unsure about their future that the people who need financial help the most financial stability. are the ones unable to get the banks’ support. Some “With the loan moratorium ended on Sept 30 youngsters also have not planned their finances and the country still reeling from the MCO after- properly, hence even when developers roll out shocks and economic impact, question marks over very attractive packages or they come across good their employment status, financial standing and property buys, they are unable to own it due to their cash flow position is obviously a big factor. poorly-managed financial portfolio,” Ai Ling adds. “While we understand the cautious position that Pepite’s Ng observes that homebuyers are now banks have to adopt, getting the right loan-to-value looking for more below-market price properties ratio that would put homebuyers at ease is still a big after the moratorium period ends. issue for them. We understand most of our custom- “This actually slows down their decision making ers find difficulty in getting anything more than 85% as it puts them in a dilemma on whether to buy now or later. Comparable transactions are insuffi- cient to justify the current value of properties that are in the market,” Ng notes. Cautious but on the lookout Amidst pandemic times, buyers have been very cautious and wary to buy another property due to the economic uncertainties and unpredicta- Property sales ble future property capital appreciation, UDA’s Salem observes. would pick up “The usual concerns are mainly the location, accessibility, density, suburban or urban areas as soon as both with high accessibilities and easy transport. A new concern now is the availability of space that can developers and be converted into a mini office or study room to adapt to the new norm,” he shares. prospective buyers Nonetheless, he says the homebuyers are keeping an eye on the market for the best deals that will satisfy their requirement for a holistic adjust themselves lifestyle. A lot of developers are offering a lot of rebates and other incentives to buyers, not to the new norm. to mention the added plus of a lower mort- gage loan interest. — Salem “Meanwhile, real house hunters who be- fore have put on hold their dream house due to high monthly repayments are now putting back that option since monthly repayments are More buyers going for at an all-time low.The most notable changes are lower-density projects homebuyers opting for digital platforms such as Ai Ling from Yit Seng sees the majority of the buyers looking for low-den- property forums and online communities to ac- sity developments, mainly due to the fear of the Covid-19 pandemic. tually get feedback,” Salem explains. “Buyers are starting to avoid projects with high density i.e. more Matrix’s Ho concurs, pointing out that nowadays than 1,000 units within one project. They prefer lower density or fewer UE M S unrise B h d consumers are very knowledgeable and discern- units per floor as they feel more comfortable and secure,” she explains. ing, plus information is readily available online. In addition to that, regardless if it is the primary or secondary market, “Thus, purchasing big ticket items like cars and properties which come with partial renovations such as air conditioning houses are well thought out and very much consid- units, built-in kitchen cabinets and countertop, as well as wardrobe for ered unlike daily expenses on food. This sentiment bedrooms are always easier to sell. is nothing new and every single purchaser out there Most homebuyers feel it has reduced their renovation cost. If the Customers are will be cautious and prudent with their money. units are sold partially furnished, it gets financed by banks, so they can “Especially for those within the mid-M40 and keep more cash for other unexpected emergencies, she adds. more open B40 groups, the uncertain times will have a huge Furthermore, developers’ track record has also become one of their impact on their lives and their purchasing pow- concerns as reputable and financially-sound developers will ensure the to er will not be as before this pandemic. These two quality of their projects and will deliver on time. digital groups are the ones who will tighten their belts and Notably, she says that instead of queries on the types of facilities reduce even their daily expenditures,” Ho notes. provided, buyers now are more aware of what they are paying for. Most presentations However, he highlights that the upper scale in buyers will check on the maintenance fees and look carefully at the fa- the M40 group, which has better financial capabil- cilities provided. Developments that come with facilities that require and engage- ity, would think about upgrading and have certain high maintenance will be out of their list. improvements in their lives now, especially when Peptite’s Ng notes that more homebuyers are looking at landed prop- ments, as well deals of a lifetime appear. erties which offer larger land space. “For them, these trying times would be the op- “More homebuyers are looking for bigger land which can also offer as portunity to purchase bigger and better homes as them the option of rebuilding the entire property. As for high-rises, virtual well as shifting from compact high-rises to landed homebuyers are looking for those which are located near shopping . at a more reasonable price and value than ever be- malls such as Uptown Residences and those which offer good views walk-throughs fore. Each market segment has its own concerns such as The Greens at Taman Tun Dr Ismail or Tropicana Grande at — Kenny and dynamics. We as developers need to determine Persiaran Tropicana,” says Ng. which market to target,” Ho stresses. CONTINUES NEXT PAGE → EP 10 Friday october 23, 2020 cover story

← from previous PAGE transport network connectivity for the roads and public transports,” he Beyond stresses. For UDA, another feature apart location, from the ones mentioned above is The majority what else? the need for two parking lots in high- of the property One common feature agreeable across rise projects. the board since the MCO started is “This is crucial especially for high buyers are fast internet connectivity in homes. rise residences in urban areas as most looking for EcoWorld has conducted its own families own more than one car and survey to check with their customers car ownership is high. Since the new low-density the key features that matter the most norm, most of our time is spent at developments. when they have to spend more time home. Therefore, incorporating new — Ai Ling in their homes. innovations into a home is key in ap- “The top answers received include pealing to our current market. On top internet connectivity; enhanced secu- of that, homes which have natural rity features; ample space for me-time lighting and air ventilation features and family time; healthy, clean and as well as energy-saving electrical green living environment; well-main- appliances is a bonus for homebuy- tained and well-equipped communal ers as they will be able to save up on and public spaces and ample amen- their utility bills,” says Salem. ities within a 10km radius,” Chang

shares. Yit S eng R ealt y High-speed broadband infrastruc- ture has become more important in Moving on the new norm as an increasing num- from here ber of people are working from home, Competition is getting intense and concurs UEM Sunrise’s Kenny. developers will need to understand “During the MCO, we conduct both customers’ real needs to win their professional and personal meetings, hearts, says UEM Sunrise’s Kenny. exercise remotely with our friends, He adds that the developer has en- attend classes and webinars, have gaged a renowned research company food and essential items delivered to conduct a comprehensive market contactless, all from the comfort of research that has helped to identify our homes. potential customers and adjust their An increasing “A reliable and high-speed broad- product design. number of band infrastructure is a must, as well “[With the results], we have seg- buyers are as a system that reduces physical con- mentised them by not just the de- tact during pandemic times,” he adds, mographics, but the psychographics. looking for citing for instance, the design of the This would then determine how we landed homes traffic flow for food or parcel deliveries would market our products to them with and contactless access from entrance and the kind of messages that would larger to lobby, carpark, lifts and facilities’ resonate with them and pull their land areas floor. heartstrings,” he reveals. or properties On top of this, Kenny notes that The findings include: Younger cli- people are more conscious of environ- entele will want products which are that are close ment conservation and sustainability. probably smaller, and at a central to various “They are aware of the waste and and bustling location with amenities amenities. excess they produce, and want to emu- nearby; while financially-stable cus- late recycling best practices from other tomers will be looking at a different — Ng developed countries. They appreciate price range with more premium fin- features like bicycle lanes, ample re- ishings and touches. cycling bins, rainwater harvesting and The different segments will have facilities for vertical farming. different emphasis on factors like den- “If more companies shift away from sity, floor layout, specifications and the office model and implement some even the prestige of neighbouring kind of work-from-home policies, then developments, says Kenny. P epite R eal E state people will also want to live further However, another challenge for the away from the city centre. They will developers will be how to enhance want bigger units at lower prices, and the engagements with overseas cus- the latest agreement signed with down to loan application should viduals will win,” says Kenny. will be more invested in the common tomers in the short to medium term, Sarawak Economic Development be able to be completed remote- For Matrix’s Ho, he reminds recreational facilities which they will due to the border restrictions to curb Corporation (SEDC). ly,” Chang stresses. us that as our way of life is being see themselves using regularly,” he the spread of Covid-19, says Kenny. “Expansion in Sabah is also Kenny adds that while they changed due to the crisis, hence highlights. “Some of our luxury launches ongoing, hopefully within the are cognisant of the fact that a what we do today may not be For Matrix, Ho points out that which usually attract the high-net- next two years. As for now, we are lot of customers out there are applicable tomorrow. The same there are different sets of require- worth foreign customers will have focusing on our current projects, holding off big purchases due goes for all businesses and what ments which each segment of home- to be moved further down the cal- including the Legasi Kampong to the economic uncertainty, is more important for the prop- buyers would look for but the main endar, while we narrow our efforts in Bharu mixed development in the there are many others who are erty development sector is the common one would be safety and marketing our products priced below heart of KL, Anggun Residences taking the opportunity to hunt financial system for its homebuy- security whether in a high-rise or on RM700,000,” he notes. at Jalan Sultan Ismail and Evoke for the best deals and bargains. ers, from first-timers to investors, a landed development. Meanwhile, UDA’s Salem notes that Residences in Penang amongst “These are the people who are he adds. ”During this time, this is a priori- although the property market will take many others,” says Salem. confident the housing market will He explains that digitalisation ty for many. Secondly, it is the whole time to recover, the group is optimistic For EcoWorld’s Chang, he em- bounce back like it always does. in the property buying process, be lifestyle concept and facilities within about the property market next year phasises that homebuyers are Investing in property is still the it in mortgage loan applications the development for each category of with seven upcoming launches in the getting accustomed to shopping gold standard for many as it pro- or the legal processes of owning inhabitants including the parks and pipeline across the country. online and a strong digital pres- vides steady appreciation in val- the house, is crucial to encourage green lungs, especially for landed “In line with UDA’s business pillar; ence is ever so important now to ue, not to mention it is some- homeownership. properties. Thirdly, the availability of affordability and sustainability, about ensure that its brand is the first thing that can be passed down “It is undeniable the move to- amenities surrounding the property 47% or 708 of our units next year are search option in home browsing. through generations. Property wards digitalisation would im- like schools, shops and hospitals or affordable homes. We are also in the “To support the digital experi- developers who are conscious prove the way we do things now,” clinics. On top of these is the ease of midst of expanding to Sarawak with ence, the entire sale process right enough in targeting these indi- Ho concludes. EP 11 Friday octobrer 23, 2020

Debuts with CEO Talks Datuk Live with Voon Tin Yow It is no secret. Datuk Voon Chief Executive Officer of IOI Properties Group Tin Yow has been a behind- the-scenes and die hard lieutenant of property magnate Tan Sri Liew Kee Sin.

Then in recent times, Voon made two screaming headlines:

Late last year, Voon, then an executive director of Eco World Development Group Bhd, was identified to replace Datuk Sri Amrin Awaluddin as Sime Darby Property managing director. That, however, did not happen.

On April 15 this year, Voon, 63, emerged as CEO of IOI Properties Group Bhd. Why IOI Properties? What is Voon's grand plan?

Catch Voon in PM for an exclusive live REMINDERS @ interview with Facebook.com/ Au Foong Yee on myedgeprop EdgeProp Malaysia’s Facebook Page — Au Foong Yee If you have burning Editor-in-Chief & Monday, 26 October Managing Director, questions for Datuk @ 8.30pm EdgeProp Malaysia Voon, click here. Powered by hbmk EP 12 Friday october 23, 2020 property chat

Extending the Defects Liability Period (DLP) protection post-CCC

no DLP in sub-sale contracts though such titlement to DLP, even if the property is terms are sometimes negotiated depend- bought after CCC. As long as the purchase ing on the “goodwill” and benevolence of is from a licensed housing developer, the the housing developer. “Goodwill” in this buyer should be entitled to DLP warran- context means the developer’s prerogative ties. After all, the defect warranties from and at its sole discretion. the developer’s contractors/builders are still subsisting on the balance of the unex- pired warranty period given by them. Protection under DLP That being the case, we propose that a The statutory schedule contracts of sale new schedule contract (of sale) be formu- carry a mandatory warranty period of lated to protect the rights and entitlement 24 months after the date the purchaser of those who buy houses after the issuance takes vacant possession of the property of the CCC from licensed housing devel- — against any “defects, shrinkage or other opers. This is to ensure that buyers will faults” which become apparent and which not be shortchanged in terms of quality are due to defective workmanship or ma- and compliance with the specifications of terials or not having been constructed in constructions as stipulated by the author- accordance with the approved plans and ities. Also, it is an extension of consumer descriptions. Such faults should be recti- protection who should also be accord- fied by the developer at its own cost and ed rights to enforce warranties under the expense within 30 days from the date of DLP period or whatever its balance there- the purchaser’s written notice. of. Justice-wise, like buyers who purchase However, this clause on DLP is missing properties in a primary market, sub-sale in most of the sub-sale or sale in second- buyers should also be given the right to ary market contracts. It is a case of caveat seek redress at the Tribunal for Home Buy- emptor or “let the buyers beware”. There ers Claim, which is a more affordable, fast is no protection from the defects, shrink- and expedient legal process. age and other faults. These defects may include cracks in the walls, water leakag- Proposing new terms es, water marks, mouldy ceiling panels, Perhaps, a new set of contract of sale clogged piping, loose floorboards or tiles, should be prescribed in the proposed new the purchaser was deemed to have inspect- unusable fixtures (such as electric connec- Schedule K (Post CC: Land & Building) By datuk Chang ed the property and was satisfied with the tions, light switches, water taps, etc.) and and Schedule L (Post CCC: Stratified Prop- Kim Loong condition before signing on the dotted line. even misaligned doors, windows and safe- erty) to be included in the HDR. Consequently, he had to fork out RM7,850 ty grills. Generally, it is a case of “what you These new contracts should cater for for the repairs and repainting works when see is what you get”. Those contracts even provisions post-CCC with a new prescribed cenario 1: Cindy is ready the apartment was barely six months old. have the audacity to state that the purchas- schedule of payments considering that some to buy a house, but hav- er has conducted independent checks and properties are leasehold with “restrictions in ing heard of plenty of aban- is satisfied with the state and conditions. title” compared to freehold status. But the doned housing projects in What the existing main objective is to design a new contract of Malaysia, she did not want to laws say sale to include DLP for those buyers of post- take the risk of buying new- Every Contract of Sale shall be in the forms House buyers’ rights CCC properties whether they are landed or ly-launched or still-under-construction prescribed in Schedules G (Land & Build- to better protection stratified housing properties. properties. Hence, she waited for the de- ing), H (Stratified Property), I (Land & Legal rights are created by the terms and Perhaps, the Minister of Housing Sveloper to complete the housing develop- Building — 10:90 concept) and J (Stratified conditions embodied in the contracts be- should consider this proposal that will ment and subsequently decided to buy a Property — 10:90 concept) of the Housing tween two covenanting parties. House buyers accord better or “extended” protection to terraced house from the developer after she Development (Control & Licensing) Regu- who purchase a new property from a housing house buyers post-CCC. was able to physically see the house. In the lations, 1989 (HDR). developer will establish a contractual rela- usual way, she asked her lawyer to assist However, HDR provides exemption to tionship with the developer via the sale con- Datuk Chang Kim Loong is her with the sale and purchase contract and the rule, inter-alia: tract. Hence, the buyers will have contractual the Hon. Secretary-General acquisition process. HDR 11(1B) “… such (contract of sale) obligations with and entitlement from the de- of the National House Upon handover, she found that although shall not apply if at the time of the execu- veloper in the event of defects, etc. Buyers Association (HBA). the house was new, it had multiple defects tion of the contract of sale, the certificate of As such, why shouldn’t buyers who HBA can be contacted at: such as cracks on the ceilings and walls. She completion and compliance (CCC) of the purchase directly from developers post- Email: [email protected] then asked the developer to rectify them. housing accommodation has been issued CCC be offered the same protection? We Website: www.hba.org.my Much to her dismay, the developer told and a certified true copy… has been for- do not see the justification for the non-en- Tel: +6012 334 5676 her the defects liability period (DLP) had warded to the purchaser.” expired already and her purchase was on The language of HDR 11(1B) is clear an “as is where is” basis. The developer said enough. The statutory contracts of sales that the DLP was not mandatory after the (i.e. Schedules G, H, I & J) do not apply to Certificate of Completion and Compliance a sub-sale or a sale in a secondary market (CCC) had been issued. after the issuance of the CCC. In a nutshell, We propose that Cindy and Latiff had thought by purchas- a new schedule Scenario 2: Latiff was ready to buy an ing their completed properties directly apartment in Subang Jaya from an estab- from the developers, they would have a contract (of sale) lished housing developer. This was his first right to ask the developers to rectify de- be formulated to time buying a property in a stratified devel- fects, if any. They were not aware that the opment. He knew practically nothing of the developer was selling through the second- protect the rights selling and buying process and sought the ary market via a sub-sale and was not un- and entitlement professional services of a lawyer. The lawyer der any legal obligation to rectify any de- of those who attended to the usual sub-sale transaction fects as their sub-sale contracts were silent with Latiff eventually taking possession of on the DLP warranties normally found in buy houses after the property from the housing developer. statutory contracts of sales. the issuance of After shifting into his apartment with his Sub-sales are not within the purview family, he discovered water leakage coming of the Ministry of Housing & Local Gov- the CCC from through his ceiling and walls. He consulted ernment and do not enjoy the protection licensed housing his lawyer and was informed that the pur- accorded to purchasers who buy proper- chase was on an “as is where is” basis and that ties under construction. Hence, there is developers. EP 13 Friday october 23, 2020 news

Report: Business parks and logistics see bright spot in 3Q2020

nakano corporation By EdgeProp Singapore other areas will decline due to the older stock in the areas, it adds. SINGAPORE: In 3Q2020, business parks In addition, factory rents are likely to continued to see demand by firms seeking moderate, while high-tech rents are set to cost-effective spaces for their workforce, remain stable, boosted by the growth of the despite the weak economic sentiment in electronics sector. Singapore. This is highlighted by Cushman In the prime logistics space, rents are & Wakefield (C&W) in its report on the in- expected to increase due to a strong pref- dustrial property market for the quarter. erence for ramp-up facilities, while rents Among the movers, Tokyo-headquartered for conventional warehouses are expected Kajima Corp started construction of its first to remain flat, says the research consultan- overseas innovation centre at Changi Busi- cy. In 3Q2020, prime logistics rents rose by ness Park. The firm will be investing S$100 1.5% over the previous quarter. million (RM306 million) in the property, Investments in industrial assets have been which will span 141,000 sq ft of business lagging behind the numbers from a year ago, park and R&D lab space. recording S$446.5 million in 3Q2020, down Upon completion in 2023, the site will 39% q-o-q and 89% y-o-y. serve as the firm’s regional headquarters “Long-term players in the logistics sector to conduct research and development into are reluctant to sell their assets; unless the advancing built technologies for the con- investor is a fund with a fixed fund life, there struction industry. A rendering of a Japanese corporation located in Changi Business Park. is no impetus for those with a long-term ho- Meanwhile, the logistics sector contin- rizon to put their assets on the market, par- ued to expand, with German logistics firm 35% with the use of solar panels, says C&W. facilities in Singapore or Southeast Asia as ticularly when quality assets are few and far DB Schenker opening its 550,000 sq ft ware- On the other hand, the outlook for indus- the threat of global supply chain disruptions between. That, and the fact that investors are house at Airport Logistics Park. The compa- trial rents is mixed. C&W projects that rent for continues to loom. bound by sale moratoriums as regulated by ny invested S$163 million in the property, business parks in the city fringe will do well, Semiconductor players and all other re- the authorities, are reasons for the low levels ramping up the number of its warehouses as demand is sustained by firms seeking to lated industries supporting 5G networks are of investment activity,” says Ong. in Singapore to 13, and expanding its total cut real estate costs by moving from Grade-A poised for growth,” comments Brenda Ong, Over the third quarter, AIMS Apac REIT warehouse footprint to 2.8 million sq ft. offices to the city fringe. Rents of business executive director and head of logistics & acquired a ramp-up logistics facility at 7 Bu- DB Schenker will be able to handle high parks in the city fringe stood at S$5.91 psf industrial at C&W. lim Street for S$129.6 million. The property, order volumes with automation used in the per month in 3Q2020, up 0.2% from the last Rents in the Science Park are expected which is located within Jurong Innovation facility that will result in a 40% speed increase quarter and 2.4% from a year ago. to increase slightly due to the growth of the District, is master-tenanted to freight for- in the handling of air freight imports and ex- “Biomedical manufacturers and the re- pharmaceutical and biomedical sector, says warding and logistics firm KWE-Kintetsu ports. It will also be able to cut energy usage by lated R&D players are looking to locate their C&W. However, rents for business parks in World Express.

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British billionaire sells priciest penthouse in Singapore for S$62m

pictures by Wallich Residence By edgeprop.my One of the casual dining rooms for residents in SINGAPORE: British inventor of the bagless Wallich Residence. vacuum-cleaner James Dyson and his wife are letting go of their three-storey penthouse for S$62 million (RM189.60 million) or an average S$3,000 psf, a discount of close to 16% of the purchase price of S$73.8 million a year ago, Reuters reported. The penthouse, which is located on the 62nd to 64th floor of Wallich Residence – the tallest skyscraper in Singapore at 290m above sea level, is situated in Tanjong Pagar. Wallich Residence is an exclusive and lim- ited collection of 181 luxury residential units, located at the pinnacle of the tallest building in Singapore developed by Guocoland Ltd as part of the S$3.2 billion Tanjong Pagar Centre integrated development. The integrated development is linked to a mall, the Tanjong Pagar MRT Station in the basement and the adjacent luxury hotel, Sofitel City Centre. The development is designed by international design firm Skidmore Owings & Merrill. Wallich Residence spans the 39th to 64th floors of Tanjong Pagar Centre and sits on top of Guoco Tower, a 38-storey premium office block. It offers only five luxury penthouses, four of them are 3,509 sq ft simplexes on the 58th to Four of the 61st storeys. Each penthouse has four en-suite penthouses The exclusive super bedrooms, a wet and dry kitchen and private at Wallich penthouse lift access. Residence The sole triplex super penthouse which was were sold. owned by Dyson occupies the highest floors. Measuring 21,109 sq ft, it comes with five bed- rooms, a 600-bottle wine cellar, a pool, Jacuzzi and a private garden with city views. According to a Business Times report, the buyer is Indonesian-born tycoon Leo Koguan. He is also the co-founder and chairman of in- fotech provider SHI International. The apartment was once valued at S$100 million, making it the city-state’s most expen- sive penthouse. Earlier in January this year, one of the pent- houses at 61st floor was sold at S$17.5 million, translating to S$4,987 psf, the highest psf price over six years, reported EdgeProp Singapore. The buyer was a Taiwanese entrepreneur who was looking for a luxury residence located in the central business district. Meanwhile, the 3,509 sq ft penthouse on the 58th floor was sold to a Cambodian business magnate for S$16 million (S$4,560 psf) in June 2018. The one on the 59th floor went to anoth- er Taiwanese owner who paid S$16.5 million (S$4,702 psf) for it last September. Currently, there is only one penthouse left on the 60th floor.

Wallich Residence offers 181 luxury residential units.

Wallich Residence is part of the Tanjong The glass Pagar Centre viewing air deck integrated excusively for the development. residents. EP 15 Friday october 23, 2020 feature

Five

1 emerging 4 A changing Debt will be tax landscape trends cheap but harder While the property market landscape is constantly changing, to come by major changes could happen in in property Already the norm in Switzerland, Japan the next few years. Across different and the Eurozone, negative rates could countries, taxes, visa incentives extend to the UK and the US to provide and foreign investment regulations further stimulus for housing markets as are set to be altered, as economies landscape low saving rates are making properties strive to boost public finances after a more attractive investment choice. introducing unprecedented levels of Although debt will be cheap, lenders fiscal stimulus. amidst a are embracing a more cautious stance by lifting up their requirement on loan- to-value rates. This means some highly pandemic leveraged individuals may find it harder to get new loans approved. By chelsey poh For first-time buyers, the afforda- bility challenge will be less about the price-to-income ratios and more about The Covid-19 pandemic has not only how to fork out a larger deposit before changed the way people live globally, securing a loan. Hence, they could be tied up in the rental market longer. 2 but also the property landscape across In the long term, the good news for countries. Knight Frank through its Global first-time buyers is that governments seem committed to expediting plan- A reprieve Buyer Sentiment Survey 2020, published ning systems and pushing ahead with for Airbnb? along with its Global Buyer Survey 2020 regeneration projects, suggesting new released in August 2020, has identified supply may slowly come in. In post-pandemic recovery stages, governments are keen to rehabilitate five nascent trends due to the pandemic their tourism sectors and reinvigorate across the globe. their economies. These could possibly 5 lead to something of a truce between authorities and home rental platforms The survey was conducted between such as Airbnb and its landlords. This is Digitilisation coupled with a shift in tourists’ prefer- June 5 and June 23, 2020 to explore the will spark more ence to self-contained holiday rentals pandemic’s impact on residential property rather than hotels with large communal visa and work spaces. markets and buyers’ attitudes. It covers While the limit on the number of more than 700 Knight Frank clients in incentives nights a home can be rented out will likely remain in major cities, we may 44 countries. All the respondents have not see new restrictions pursued with registered an interest in buying property as much vigour in the coming months. with Knight Frank.

3

The coronavirus has further promoted Blurred lines digitalisation. Millions of people are now working from home and authorities are between primary and moving fast to capitalise on this trend. From the US to Japan, stopping off in secondary homes Barbados and Italy, governments and The benefits of improved productivity, no commute local councils are announcing new laws and more family time have prompted some to and initiatives to help boost their econo- consider a shorter working week in the office — mies post-Covid-19 and repopulate their perhaps three days instead of five. towns and villages to counter decades of Thus, the research firm sees more people buying urban migration. second homes which could offer bigger space, Barbados has launched a 12-month especially the outdoors, and greater privacy, if welcome visa to encourage remote lockdowns happen. workers to base themselves from the With children being home educated and parents Caribbean island, whilst the city of Sa- working remotely, some homeowners are spending vannah in Georgia, US, is offering up to longer time in their second homes during lockdowns US$2,000 (RM8,294) to cover relocation than their primary residences located closer to their expenses for remote tech workers who workplaces in urban areas. move to the area for at least a year, ac- Whilst the affinity of the office and urban living cording to the World Economic Forum. remains, the attraction of places in city outskirts We expect more rural and second home might heighten in the short to medium term. markets to follow suit. EP 16 Friday october 23, 2020

Friday august 30, 2019 Click/tap on spotlight each listing Commercial Residential to visit the Properties for sale and rent listing’s page

RM395,000 RM730,000 RM1,200,000 RM1,580,000 Kampung Kuang, Sungai Buloh, Chemara Hills, Seremban, Sathu Terraces, Sungai Ara, Penang Anggun Kirana, Setia Alam, Selangor Negeri Sembilan Type: Terraced house Tenure: Freehold Selangor Type: Residential land Tenure: Freehold Type: Terraced house Tenure: Freehold Built-up: 2,600 sq ft Land size: 1,760 sq ft Type: Terraced house Tenure: Freehold Land size: 6,564 sq ft Built-up: 2,557 sq ft Land size: 1,923 sq ft Bedroom: 4 Bathroom: 4 Built-up: 4,248 sq ft Land size: 2,519 sq ft Bedroom: 5 Bathroom: 5 Bedroom: 6 Bathroom: 7

Ahmad Suhaili (REN 16724) Aimi Zamzuri (REN 27363) Crystal Khor (REN 21334) Ain Nadia (REN 25860) LANDSWORTH PROPERTIES SDN BHD (VE (1) 0091/3) MAXXAN REALTY Sdn BHD (VE (1) 0091/3) IQI REALTY SDN BHD (E (1) 1584/3) MAXXAN REALTY Sdn BHD (E (1) 1766) +6011 188 84740 +6017 300 6640 +6016 416 8866 +6017 210 9956

RENTED FOR DONE rm6,500/mth (RM4.34 psf) DEAL Condominium unit, Pavilion Hilltop Mont’Kiara, Kuala Lumpur

Concluded by: Carol Tong (REN 34423) of Kith and Kin Realty Sdn Bhd (+6014 6832 968) When: August 2020 RM1,180,000 RM250,000 Kiaramas Ayuria, Mont’Kiara, Pavilion Hilltop Mont’Kiara investment purposes. “The Residensi Lanar Mantau, Kuala Lumpur Noteworthy is located in the upmarket rental of RM6,500 per month Seremban, Negeri Sembilan Type: Condominium Tenure: Freehold Type: Condominium Tenure: Freehold •Freehold neighbourhood of is considered a very good Built-up: 1,605 sq ft Bedroom: 4 Built-up: 925 sq ft Bedroom: 3 Bathroom: 2 •Built-up: 1,496 sq ft Mont’Kiara, Kuala Lumpur. offer for a 1,496 sq ft unit in Bathroom: 4 Developed by Permata Pavilion Hilltop Mont’Kiara •4 bedrooms; (REN 28403) Cermat (joint venture which usually nets a rental (REN 41528) Cerrine Yew 4 bathrooms Aizat Ghazali REAPFIELD PROPERTIES (HQ) SDN BHD (E (1) 0452) between Pavilion Group and yield of up to 5% or 6%,” she HUNT PROPERTIES (BANGI) Sdn BHD (E (1) 1498/3) •Fully furnished +6012 201 3088 Kuwait Finance House), the told EdgeProp.my. +6013 298 8738 •High-floor unit high-end residential project Based on data from •Nearby amenities: consists of 621 units spread EdgeProp Research as of Shopping malls, across three blocks. end-September 2020, there international Built-up of the units range were 75 rental listings for schools, clinics and from 1,200 sq ft to 3,671 sq Pavilion Hilltop Mont’Kiara medical centre, ft. The tenants, a Japanese with an average monthly eateries and family, were very happy asking rent of RM7,682 or convenience stores with the furnishings and RM4 psf. •Easy accessibility via rented the unit even before Additionally, there were SPRINT Highway, renovations were completed. 80 units looking for buyers Jalan Duta-Sungai Buloh Highway, “The unit was left with an average asking price of Duta-Ulu Klang unoccupied for a year plus RM2.1 million or RM1,019 psf. Expressway (DUKE) and the owner decided to Within this year up RM1,950,000 and North-South ask for my help to engage an to September, 10 units RM388,000 Alam Impian, Shah Alam, Selangor Expressway interior designer to renovate were sold at an average Perling Heights Apartments, Type: Terraced house Tenure: Freehold the unit,” said Carol Tong of transacted price of RM1.6 Johor Bahru, Johor Built-up: 3,674 sq ft Land size: 5,468 sq ft Kith and Kin Realty Sdn Bhd million or RM922 psf, while Type: Apartment Tenure: Freehold Bedroom: 6 Bathroom: 6 who concluded the deal. last year, 35 units were Built-up: 1,229 sq ft Bedroom: 3 Bathroom: 2 She added that the unit is taken up with an average Akmal Hartanah (REN 37482) facing the Istana Negara and transacted price of RM1.7 Alex Lim (REN 21828) NAS REALTY (E (3) 1954) the owner had bought it for million or RM969 psf. GATHER PROPERTIES SDN BHD (E (1) 1536/4) +6011 185 23234 +6016 709 0760

RM353,400 RM3,280,000 RM2,700,000 RM465,000 Taman Belimbing Harmoni, Bangi Golf Resort, Bangi, Selangor Idaman Villas, Ara Damansara, Seksyen 5, Bandar Baru Bangi, Durian Tunggal, Melaka Type: Bungalow Tenure: Leasehold Selangor Bangi, Selangor Type: Terraced house Tenure: Leasehold Built-up: 5,801 sq ft Land size: 22,000 sq ft Type: Link bungalow Tenure: Freehold Type: Terraced house Tenure: Leasehold Built-up: 1,835 sq ft Land size: 1,540 sq ft Bedroom: 5 Bathroom: 5 Built-up: NA Land size: 3,600 sq ft Bedroom: Built-up: NA Land size: 1,400 sq ft Bedroom: 4 Bathroom: 3 4 Bathroom: 6 Bedroom: 3 Bathroom: 3

Alil Anua (REN 41209) Alps Joon Kiat Tan (REN 18124) May Leong (E 2769) Amal Husna Bt Sulaiman (REN 35294) TOGETHER PROPERTIES (E (3) 0503) ORIENTAL REAL ESTATE SDN BHD (E (1) 1503) JUBILEE REALTY (E (3) 1853) ORIENTAL REAL ESTATE (E (1) 15013) +6013 623 0330 +6010 215 3233 +6012 779 0798 +6011 626 85602 EP 17 Friday october 23, 2020

Find your dream home from more than 250,000 listings at www.EdgeProp.my spotlight

Commercial Residential Properties for sale and rent Pro Agents, get your listings featured here! Email [email protected] or call 03-7733 9000

RM520,000 RM2,850,000 RM280,000 RM3,000/mth Bandar Saujana Putra, Jenjarom, Seri Pilmoor, Ara Damansara, You Residences, Batu 9, Kota Kemuning, Selangor Selangor Selangor Cheras, Selangor Type: Shoplot Tenure: Leasehold Type: Terraced house Tenure: Leasehold Type: Link bungalow Tenure: Freehold Type: Condominium Tenure: Freehold Built-up: 3,122 sq ft Land size: 1,560 sq ft Built-up: NA Land size: 1,400 sq ft Built-up: 4,628 sq ft Land size: 3,600 sq ft Built-up: 533 sq ft Bedroom: Studio Bedroom: 4 Bathroom: 3 Bedroom: 4 Bathroom: 6 Bathroom: 1

Chris Chan (REN 25514) May Leong (E 2769) Chris Lim (REN 20985) Andy Gan (REN 41436) GRIFFIN PROPERTIES (E (3) 1792) JUBILEE REALTY (E (3) 1853) GRIFFIN PROPERTIES (E (3) 1792) WEREG PROPERTIES (E (3) 1867) +6016 208 6226 +6012 779 0798 +6016 995 5607 +6019 338 0857

SOLD FOR DONE rm1.25 mil (RM1,161 psf) DEAL Condominium unit, Nadi Service Residences, Bangsar, Kuala Lumpur

Concluded by: Caren Wong (PEA 2467) of Esprit Estate Agent (+6016 2823 223) When: June 2020 RM775,000 RM700,000 Horizon Hills, Johor Bahru, Johor Developed by Hap Seng and deal was closed Wisma Cosway, Jalan Raja Chulan, Type: Terraced house Tenure: Freehold Noteworthy Land, Nadi Service during the Recovery MCO Kuala Lumpur Built-up: 3,100 sq ft Land size: 2,080 sq ft Type: Office Tenure: NA • Built-up: 1,076 sq ft Residences was completed period. Bedroom: 4 Bathroom: 4 Built-up: 1,056 sq ft •Freehold back in 2017 with a total On why it was sold, of 416 units ranging from the owner cited personal •Semi-furnished Ang Boon Chai (REN 39619) 441 sq ft to 1,130 sq ft. It is reasons. Angelia Kong (REN 03495) •2 bedrooms; EU AS PROPERTIES SDN BHD (E (1) 1677) located only 1.4km from As at October FIRST REALTORS AGENCY (E (3) 0788) 2 bathrooms +6017 780 8161 Bangsar Village Shopping 2020, there were 44 +6017 292 3977 • Accessible via Mall and shops. rental listings for Nadi highways including According to the Residences on EdgeProp. the Penchala Link, agent, Caren Wong from my, with an average asking Federal Highway, Esprit Estate Agent who rental of RM3,744 per Damansara-Puchong Expressway and concluded the deal, she month or RM4.93 psf. SPRINT Highway. said the buyer likes the During the same unit as it has a panoramic period, there were 31 sale view from the balcony. listings with an average “The home is a asking price of RM1,429 corner unit and is well psf or RM1.19 million. maintained by the So far this year, two previous owner. The unit units have exchanged was also sold at 10% below hands at an average price RM855,800 the developer’s sale and of RM1,136 psf, which RM1,700,000 Parkville, Sunway Damansara, purchase agreement translates to RM870.000. Oncidium Heights, Kota Kemuning, Selangor price,” said Wong. Selangor Type: Townhouse Tenure: Leasehold She added that the Planning to buy or sell a Type: Link bungalow Tenure: Freehold Built-up: 1,937 sq ft Land size: 2,000 sq ft negotiation was done home? With EdgeProp’s FREE Built-up: 4,000 sq ft Land size: 7,500 sq ft Bedroom: 3 Bathroom: 3 transacted price tool, you can Bedroom: 4 Bathroom: 4 during the Movement check past transaction prices for Angie Chai (REN 00377) Control Order (MCO) any property by name or area May Leong (E 2769) CBD PROPERTIES SDN BHD (E (1) 1197) period while the viewing and make an informed decision. JUBILEE REALTY (E (3) 1853) +6012 383 0608 +6012 779 0798

RM2,900,000 RM500,000 RM1,500,000 RM595,000 Seksyen 8, Shah Alam, Selangor Taman Puncak Saujana, Kajang, Taman Impian Putra, Bangi, Seri Maya Condominium, Type: Bungalow Tenure: Leasehold Selangor Selangor Setiawangsa, Kuala Lumpur Built-up: 5,500 sq ft Land size: 7,680 sq ft Type: Terraced house Tenure: Freehold Type: Semidee house Tenure: Leasehold Type: Condominium Tenure: Freehold Bedroom: 7 Bathroom: 8 Built-up: 1,800 sq ft Land size: 1,400 sq ft Built-up: 4,500 sqft Land size: 5,489 sq ft Built-up: 1,211 sq ft Bedroom: 3 Bathroom: 2 Bedroom: 4 Bathroom: 3 Bedroom: 6 Bathroom: 7

Anne Annuar (REN 21203) Anuar Ali (REN 04017) Asilah Alias (REN 21193) Asyran Laidin (PEA 2350) BAHARI & CO (VE (2) 0255/2) NASIR,SABARUDDIN & ASSOCIATES SDN BHD TRANSASIA PROPERTY CONSULTANCY SDN BHD IREAL PROPERTY SDN BHD (E (1) 1747) +6013 298 8635 (VE (1) 0358/2) +6013 350 5399 (VE (1) 0187) +6017 243 4177 +6012 429 9573 EP 18 Friday october 23, 2020

Friday august 30, 2019 Click/tap on spotlight each listing Commercial Residential to visit the Properties for sale and rent listing’s page

RM860,000 RM 1,200,000 RM750,000 RM10,000,000 USJ 11, Subang Jaya, Selangor Section 1, Petaling Jaya, Selangor Bandar Baru Sri Petaling, Bandar Pinggiran Subang, Type: Terraced house Tenure: NA Type: Bungalow Tenure: Leasehold Kuala Lumpur Shah Alam, Selangor Built-up: 2,000 sq ft Land size: 1,800 sq ft Built-up: 2,500 sq ft Land size: 4,300 sq ft Type: Terraced house Tenure: Leasehold Type: Factory Tenure: Leasehold Bedroom: 4 Bathroom: 3 Bedroom: 6 Bathroom: 2 Built-up: 2,000 sq ft Land size: 2,196 sq ft Built-up: 10,572 sq ft Land size: 35,639 sq ft Bedroom: 3 Bathroom: 3

Christopher (REN 03972) Augustine (REN 01958) Azemi (REN 15376) Azman Kadir (REN 11074) REAPFIELD PROPERTIES (HQ) SDN BHD (E (1) 0452) JUBILEE REALTY (E (3)1853) JAZ INTERNATIONAL MALAYSIA SDN BHD ALAM HARTA REALTY (E (3) 1687) +6012 278 2207 +6012 313 3481 (VEPM (1) 0120) +6017 356 9452 +6019 387 7102

RM855,000 RM6,500 mth RM6,500/mth RM3,500/mth Bukit Tinggi 2, Klang, Selangor Bukit Bintang, Kuala Lumpur La Promenada, Kota Samarahan, Identiti U-Thant, Taman U-Thant, Type: Terraced house Tenure: Freehold Type: Office Tenure: Freehold Sarawak Kuala Lumpur Built-up: 1,800 sq ft Land size: 1,800 sq ft Built-up: 1,200 sq ft Bathroom: 2 Type: Bungalow Tenure: Leasehold Type: Condominium Tenure: Freehold Bedroom: 4 Bathroom: 4 Built-up: 3,652 sq ft Land size: 8,204 sq ft Built-up: 900 sq ft Bedroom: 1 Bathroom: 1 Bedroom: 6 Bathroom: 6

B Mega (REN 34006) Baze Yeoh (REN 11462) Beautriz Sim (E 2704) Betty Gill (REN 02341) VIVAHOMES REALTY SDN BHD (E (1) 1670/11) STARCITY PROPERTY SDN BHD (E (1) 1395/7) AZMI & CO (SARAWAK) SDN BHD (VEPM (1) 0002/3) IPC REALTY SDN BHD (E (1) 1440) +6016 285 9629 +6010 366 5106 +6012 888 5121 +6012 384 8142

RM6,180,000 RM1,650,000 RM1,950/mth RM17,000/mth Sierramas, Sungai Buloh, Selangor Bukit Rimau, Shah Alam, Selangor Mercu Summer Suites, 11 Mont Kiara, Mont’Kiara, Type: Bungalow Tenure: Freehold Type: Bungalow Tenure: Freehold Jalan Cendana, Kuala Lumpur Kuala Lumpur Built-up: NA Land size: 8,503 sq ft Bedroom: Built-up: 3,200 sq ft Land size: 3,060 sq ft Type: Condominium Tenure: Leasehold Type: Condominium Tenure: Freehold 6 Bathroom: 6 Bedroom: 4 Bathroom: 4 Built-up: 500 sq ft Bedroom: Studio Built-up: 5,693 sq ft Bedroom: 5 Bathroom: 1 Bathroom: 5

Brian Tang (PEA 2267) Bryan Chong (REN 00709) CJ Chai (REN 09011) Carmen Teoh (REN 27223) IQI REALTY (E (1) 1584) WEREG PROPERTIES SDN BHD (E (1) 1955) METRO CITY REALTORS SDN BHD (E (1) 1652) IQI REALTY SDN BHD (E (1) 1584) +6016 528 3313 +6016 308 8018 +6011 237 27168 +6012 303 3133

RM748,888 RM288,000 RM825,000 RM3,150,000 Bandar Seri Sendayan, Seremban, Taman Pulai Emas, Kangkar Pulai, Subang Parkhomes, Subang Jaya, 10 Mont Kiara, Mont’Kiara, Negeri Sembilan Johor Selangor Kuala Lumpur Type: Terraced house Tenure: Freehold Type: Terraced house Tenure: Leasehold Type: Condominium Tenure: Freehold Type: Condominium Tenure: Freehold Built-up: 3,164 sq ft Land size: 1,870 sq ft Built-up: 1,080 sq ft Bedroom: 3 Built-up: 1,310 sq ft Bedroom: 3 Bathroom: 3 Built-up: 3,704 sq ft Bedroom: 4 Bedroom: 4 Bathroom: 4 Bathroom: 2 Bathroom: 5

Cloie Chow (REN 25882) Casmin Eu (REN 27903) Catherine (REN 09255) Catherine Wong (REN 23091) GS REALTY SDN BHD ROYCE PROPERTIES & REAL ESTATE SDN BHD CBD PROPERTIES SDN BHD (E (1) 1197) KITH AND KIN REALTY SDN BHD (E (1) 1933) +6010 231 1178 (E (1) 1934) +6010 568 5628 +6012 383 9275 +6019 663 3377 EP 19 Friday october 23, 2020 Bukit jalil EdgeProp.my’s #AreaOf TheWeek

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