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FRIDAY, OCTOBER 9, 2020 . ISSUE 3138/2020 . PP19055/06/2016(034530) DIGITAL

EP EP EP 10 FEATURE07 08NEWS PROPERTY CHAT Overhang Kampung properties Attap striving precipitate to keep up The rising of a developers’ with the pace property giant? ‘hangover’

Stay updated on the latest news at Buying a www.EdgeProp.my third property The removal of 70% loan margin cap for a third property buy is expected to spur investors’ interest, but has this translated into real sales? See Pages 5 and 6. EP 2 FRIDAY OCTOBER 9, 2020

NEWS HIGHLIGHTS from www.EdgeProp.my

PM says no total lockdown, only TEMCO in high risk areas

Prime Minister Tan Sri Muhyiddin Yassin (pictured) assured the public that there will not be another total lockdown as this would have a significant impact on ’s economic and social systems, but said the government will enforce the Targeted Enhanced Movement Control Order The Edge Property Sdn Bhd (1091814-P) (TEMCO) in high-risk areas. Level 3, Menara KLK, In a televised address a few days ago, the prime No. 1 Jalan PJU 7/6, Mutiara Damansara, 47810 Petaling Jaya, minister said economic and social activities in Selangor, Malaysia other areas unaffected by the TEMCO can continue provided that the standard operating procedures EdgeProp.my (SOPs) are strictly observed.

Managing Director/Editor-in-chief “The recovery of the economy is going Au Foong Yee smoothly. Any decision made [by the government] EDITORIAL takes into account the well-being of the 15 million Assistant Editor Tan Ai Leng Deputy Chief Copy Editor Malaysians that go out to work. This is important James Chong Senior Writer to ensure the livelihoods of the people and the Rachel Chew economic stability of the country,” Muhyiddin Writers Natalie Khoo, Chin Wai Lun, said. Chelsey Poh Senior Designer Jun Kit Meanwhile, he said people should not point fingers and blame any particular party for the For New Launches/Events/ Press Releases/News Tips spike in Covid-19 infections and noted that there email: [email protected] Tel: (03) 7721 8211 Fax: (03) 7721 8280 are those that have politicised the issue.

ADVERTISING & MARKETING Associate Account Director, Advertising & Marketing Heidee Ahmad (019) 388 1880 Senior Account Managers Policy Committee’s final meeting Zafrul: Malaysia’s on CNBC’s “Asia Squawk Box”. He reit- Ian Leong (012) 359 1668 this year on Nov 3, 2020 unless the erated that the fiscal deficit is expected Cecilia Too (012) 319 7666 global Covid-19 pandemic worsens, debt levels set to to be around 5.8% to 6% this year. Marketing Support & Ad Traffic Socio-Economic Research Centre rise amid pandemic Zafrul said so far, fiscal injections Madeline Tan (03) 7721 8218 email: [email protected] (SERC) executive director Lee Heng Finance Minister Tengku Datuk Seri into the economy stand at around Guie said. Zafrul Aziz said Malaysia’s debt lev- 20% of gross domestic product BUSINESS DEVELOPMENT “It is too early for the central bank els are set to rise as the country (GDP), according to a CNBC report Manager Nimalen Parimalam (014) 324 3193 Govt to ban to restart the cutting of rates. BNM embarks on measures to support on Oct 5, 2020. will likely hold it unchanged unless businesses and citizens to deal with “We are still focused on fiscal AGENCY SALES travel from the development of the virus wors- the economic fallout from the Cov- responsibility, of course. We have Sales Manager Sabah effective Stannly Tan (012) 538 1687 ens,” Lee said during SERC’s online id-19 pandemic. debt-to-GDP now at around 53%. from Oct 12 PRODUCT DEVELOPMENT media briefing recently on Malaysia’s “We’re anticipating and forecast- It will end at around 56%. We have & CUSTOMER ADVISORY The government has issued a travel economic outlook. ing that deficit will go up this year for approval from Parliament to go up Associates ban from Sabah to Peninsular Ma- He was responding to a question Malaysia,” said Zafrul in an interview to 60%,” the minister said. Omar Nawawi (012) 537 1687 Nazrin Hakimin (017) 368 6061 laysia, Sarawak and Labuan from Oct on the possibility of another interest 12 until Oct 25 following the surge in rate cut by BNM during its next mon- For enquiries and listings email: [email protected] Covid-19 cases, said Senior Minister etary policy meeting on Nov 3. Tel: (03) 7733 9000 CMCO in Klang and three areas

(Security) Datuk Seri Ismail Sabri On Sept 10, 2020, BNM said in a THE EDGE in Sabah from Oct 9 EdgeProp.my e-Publication Yaakob. statement that its Monetary Policy is published by The Edge Property “However, special exemptions will Committee had decided to maintain The Conditional Movement Control Order (CMCO) will be imposed in Sdn Bhd. Download it for free at be given to certain cases involving the OPR at 1.75%. Sandakan, Papar and Tuaran in Sabah, and Klang in Selangor beginning www.EdgeProp.my emergency, death, essential services Oct 9 to check the increasing number of Covid-19 cases, said Senior Min- and others that will require permission ister (Security Cluster) Datuk Seri Ismail Sabri Yaakob. The Edge Malaysia from the Ministry of Health (MOH). Get BREAKING He said the CMCO would be enforced for 14 days in these red zones to “Those who have received permis- enable targeted case detection activities to be carried out. Publisher and Group CEO sion must undergo Covid-19 screen- PROPERTY Movements in and out of these four CMCO areas will be banned. Only Ho Kay Tat ing by the MOH upon arrival at the NEWS delivered essential services including factories and the related services network EDITORIAL entry points of their destinations,” he will be allowed. Editor-in-chief Azam Aris said in a statement on the Recovery to you daily via CORPORATE Chief Operating Officer Movement Control Order (RMCO) WhatsApp! An aerial view of Klang. Lim Shiew Yuin on Oct 6. ADVERTISING & MARKETING As for entry into Sabah, he said Chief Commercial Officer that permission would be given to Sharon Teh (012) 313 9056 General Manager several categories, namely Sabahans Fong Lai Kuan (012) 386 2831 holding the H code in their MyKad Senior Sales Manager and spouses of Sabahans holding Gregory Thu (012) 376 0614 Head of Marketing valid Malaysian Immigration passes Support & Ad Traffic issued by the Malaysian Immigration TO SUBSCRIBE Lorraine Chan (03) 7721 8001 Department of Sabah or have proof of marriage and birth certificate. 1. Add +6018 290 2116 to your contact list as EdgeProp News. BNM seen Or scan this QR code. maintaining OPR at 2020 final meeting 2. Send us a WhatsApp with "NEWS" and Bank Negara Malaysia (BNM) is ex- pected to maintain the overnight pol- your full name in icy rate (OPR) at the current 1.75% the message. How do I get past issues of this weekly e-Publication? during the central bank’s Monetary Go to www.EdgeProp.my to download for free! EP 3 FRIDAY OCTOBER 9, 2020

NEWS HIGHLIGHTSNEWS from www.EdgeProp.myHIGHLIGHTS from www.EdgeProp.my

Covid-19: It’s like everywhere now KENZO TAKADA’S INSTAGRAM KENZO TAKADA’S Malaysia’s daily Covid-19 confirmed cases have remained at three digits since the beginning of this month. For the first seven days of October, the country has recorded more than 2,700 positive cases. Many public places, offices and shopping malls also reported visitors or staff testing positive for Covid-19. Here are the summary of the premises that have reported positive Covid-19 cases and taken prevention measures to curb the spread of the virus.

Covid-19: US hotels Designer Kenzo Takada have lost five dies of Covid-19, aged 81 million jobs since February Paris-based Japanese designer Kenzo Takada, the founder of the luxury fashion house Kenzo, died in Paris on Sunday due to Covid-19, The hotel industry of the US has reported CNN. seen a loss of five million jobs since OCT 8: A member of Fitness First wellness centre in "It is with immense sadness that the brand K-3 announces the loss of February, as one of the results of its celebrated artistic director, Kenzo Takada. The world-renowned de- the Covid-19 pandemic which has Setia City Mall, Setia Alam, Selangor was tested signer passed away on Oct 4, 2020 due to Covid-19 related complications claimed nearly 210,000 lives in the positive for Covid-19. at the age of 81 at the American Hospital, in Neuilly-sur-Seine, France," country, reported Xinhua news agen- CNN cited the statement from Takada’s luxury K3 brand. cy, quoting the latest statistics. Takada was born on Feb 27, 1939 in Himeji, Hyogo Prefecture. His The hotel room occupancy rate OCT 8: Parkson Elite store at 1 Utama Shopping love for fashion developed at an early age, particularly through reading in August in the US stood at 48.6%, Centre in Bandar Utama, Selangor will be closed his sisters’ magazines. down by 31.7% over the same period until further notice after one of its staff was tested He came to France in 1965 by boat, landing in Marseille before mak- last year, and the rate went further positive for Covid-19. ing his way to Paris and took over a boutique in 1970. Inspired by travels down to 48.5% during the second all over the world, his signature bold colours, floral and jungle prints week of September, said STR, a have rocked the fashion scene in Paris. private entity that provides data OCT 7: Chong Hwa Independent High School in Takada retired in 1999, after selling his fashion brand to luxury benchmarking, analytics and mar- was closed for three days after a conglomerate LVMH in 1993, and dedicated time to one-off projects, ketplace insights for global hospi- including a design collection early this year. tality sectors. family member of three students tested positive for Meanwhile, according to Asso- Covid-19. ciated Luxury Hotels International (ALHI), only 38% of people in the US OCT 7: The Malaysian Islamic Development S’pore DPM plan to be on vacation within 2020, praises Iskandar in comparison with 70 per cent in a Department (Jakim) HQ at the Putrajaya Islamic regular year. Complex is closed until Oct 20 to carry out Malaysia Around three-fourths of the

TROPICANA CORP TROPICANA American hotels are prepared to sanitation work. This is after Minister in the Prime lay off more staff members during Minister’s Department (Religious Affairs) Datuk Seri the pandemic, if no further relief is Dr Zulkifli Mohamad Al-Bakri tested positive for issued by the government in time, Covid-19.

HENG SWEE KEAT said ALHI.

OCT 6: Sime Darby Property temporarily closed its Iskandar Malaysia in Johor offers HQ in Petaling Jaya after one of its staff working good opportunities for companies HOTLINES in the building tested positive for Covid-19. to cluster the full value chain of Tycoon Danny complementary activities, from Tan’s son research and development to re- OCT 6: Tung Shin Hospital found five of its patients gional headquarters and manu- Dickson resigns facturing, said Singapore Deputy positive for the Covid-19 virus. They were detected as Tropicana’s For COVID-19 screening Prime Minister and Finance Min- deputy CEO via pre-surgery screening and one foreigner was ister Heng Swee Keat. or tests, contact the Health detected through pre-travelling screening. Apart from Iskandar Malaysia, Tropicana Corp Bhd deputy chief Ministry’s Crisis Preparedness the southern economic region of executive officer Datuk Dickson and Response Centre (CPRC) Malaysia, he said the Batam, Bin- Tan Yong Loong has resigned Tel: 03-8881 0200, OCT 5: Padini Holdings Bhd has confirmed that one of tan, Karimun regions of Indonesia from his post with immediate 03-8881 0600 the staff at Brands Outlet inParadigm Mall, Kelana presented the same opportunities. effect. and 03-8881 0700 “Southeast Asia can benefit He has also resigned as a di- from 8.30am to 5pm daily Jaya, tested positive for Covid-19. The outlet was from the greater premium on rector of the group, the proper- Or Email: [email protected] temporarily closed for a thorough sanitisation. supply chain resilience through ty developer said in a stock ex- For more information, go to regional cooperation,” he said change filing on Oct 6. The reason An outlet staff from the Mac City Service when delivering his Ministerial for the resignation is health relat- CPRC Telegram channel at OCT 5: Statement in Parliament recently. ed, it said. https://t.me/cprckkm Centre in 1 Utama Shopping Centre, Bandar Heng said Singapore would Yong Loong, 39, is the son of Utama, was tested positive for the Covid-19. further strengthen its value prop- Tan Sri Danny Tan Chee Sing, the For queries on the Restricted osition through greater regional founder and major shareholder of Movement Control Order, cooperation and by building up Tropicana. The tycoon is presently call 03-8888 2010. a leading trade and logistics eco- the executive vice-chairman of How do I get past issues of this weekly e-Publication? system. the group. Go to www.EdgeProp.my to download for free! EP 4 Friday october 9, 2020 EP 5 FRIDAY OCTOBER 9, 2020 COVER STORY Should you invest in MORE PROPERTY?

IDEAL MORTGAGE SPECIALIST BY RACHEL CHEW she collected the keys at the end last year. For the third property, Callie is eyeing a second hand walk-up apartment in Bandar Damansara, he announcement of the removal of priced at RM280,000. With the new policy under the 70% financing cap for a third home the HOC, she purchased the unit with a 90% loan loan of RM600,000 and above dur- margin. ing the Home Ownership Campaign “I believe in property… My family — my mom, (HOC) period is encouraging news my younger sister and myself, had been moving for those mulling the purchase of a from one house to another since my father passed third property. on when I was six. Therefore, having a place for TFor the chartered accountant who only wants yourself and your loved ones has always been the to be known as Callie, the announcement has re- utmost target since I was young,” the 36-year-old opened the doors for her to buy a third property accountant told EdgeProp.my. for investment. Callie is one of the beneficiaries of the govern- She intended to purchase the third property ment’s short-term economic stimulus plan, also early this year but chose to postpone it as the bank known as Pelan Jana Semula Ekonomi Negara only offered her a 70% loan margin. (PENJANA). Callie’s first property was a 20-year-old, 3-bed- Under the plan, which was unveiled on June room single-storey terraced house located in Taman 5, prime minister Tan Sri Muhyiddin Yassin rein- Ehsan, Kuala Lumpur. It was priced at RM360,000 troduced the HOC starting from June 1, 2020 to when she purchased it eight years ago with the May 31, 2021. help of her mother. Under the HOC, eligible home buyers can enjoy Her second property was a brand new 3-bed- 100% stamp duty exemption for the instrument of as well as the exemption of Real Property Gains Tax “I would say room condominium project located in , transfer for any residential home purchase up to (RPGT) for Malaysians who sell their residential priced at RM420,000. The unit was rented out after a value of RM1 million, and for properties worth property between June 1, 2020 and Dec 31, 2021. the increase more than RM1 million and up to RM2.5 million, a [of the 3% stamp duty needs to be paid for the instru- purchasers ment of transfer. There is also 100% stamp Increase on third property for third duty exemption for the instruments on buying interest securing loans for properties worth Ideal Mortgage Specialist Sdn Bhd head of mar- property] is up to RM2.25 million. keting Vincent Ching says there are increasing very minimal, Meanwhile, the government enquiries on third property housing loans after probably also announced the removal of the announcement was made. the 70% financing cap for the While a lot of prospective buyers are interested between 10% third home loan of RM600,000 to know about how to obtain a higher loan margin to 15% in and above during the HOC period, for property purchase, the enquiries have yet to the past two translate into sales as the market is still worried For the third property, over uncertainties caused by the Covid-19 pan- months.” Callie is eyeing a second demic, he explains. — Ching hand walk-up apartment in “Looking at the current situation, for most peo- Bandar Damansara, priced ple, buying a new property is not their priority for at RM280,000. With the now,” says Ching. Nevertheless, the announcement has spurred new policy under the HOC, buying interest in the long quiet property market she purchased the unit with albeit at a slow pace. a 90% loan margin. CONTINUES NEXT PAGE → EP 6 FRIDAY OCTOBER 9, 2020 COVER STORY THE EDGE

← FROM PREVIOUS PAGE MYEP SERVICES “I would say the increase [of the purchasers for third property] is very minimal, probably between Think twice before 10% to 15% in the past two months,” he observes. buying Propstar Realty’s team manager Kevin Teh con- Undeniably, the current low interest curs that PENJANA has created the “feel good” ef- rate environment coupled with various fect on the market as the majority of the property perks are favorable to property buyers. owners have started to do some window shopping Nevertheless, financial planning for good bargains. firm MyFP Services Sdn Bhd co-found- “However, the government’s initiative [of the “Generally, er and executive director Eng Meei Yu removal of the 70% loan margin on third proper- the property reminds buyers that it is important to ty purchase] hasn’t really pushed the transaction market is not understand the reason of purchase [level] so far as buyers are generally very cautious before signing on the dotted line. now,” he says. all gloom “From a financial planning stand- To spur buying interest, Teh notes that banks play and doom as point, the question is do you really a crucial role in making a third property purchase expected post need a third or more properties? The more appealing by offering higher loan margin to announcement might be good for the eligible purchasers. MCO.” — Woo developers who have a lot of unsold One of the reasons that banks couldn’t offer an properties, but for individuals, having above 70% loan margin is due to lower valuation more properties doesn’t [automatical- of the property. ly] mean it is good,” says the certified “Therefore, even though the banks have loos- financial planner. ened up and are approving a higher loan amount Before making a decision, one now, it is still not up to 90% of the property price,” News not should understand the nature of prop- Teh explains. well spread yet erty investment. Since May and June this year, Kith and Kin Realty Eng explains that although property Sdn Bhd co-founder and team leader Freeman is a good investment, it is not as liquid “Ask yourself: Can you Woo has received quite a number of enquiries as other property-related investment from clients looking for third (or more) properties. tools such as real estate investment afford it? Are you taking

EdgeProp.my Current low interest rate, ample supply of good trusts and exchange-traded funds. on too much loans and | properties and with owners being more realistic During pandemic times, disposal of liabilities for the third about the selling price, there are good opportu- a physical asset might be more diffi- home purchase?” — Eng nities for cash-rich property investors. cult as people prefer to conserve cash. Woo notes that while the announcement of the “You really need to watch out for

LOW YEN YEING LOW 70% loan margin cap removal for a third property your cash flow. Ask yourself: Can you “The concerns of the bank are on “Even purchase is certainly good news, the market doesn’t afford it? Are you taking on too much the nature of the property purchase seem to be very aware of this measure. loans and liabilities for the third home which is for investment and the long- though the “Generally, the property market is not all gloom purchase?” she says. term capability of the borrower, espe- banks have and doom as expected post movement control In the new normal, people have cially taking into consideration the loosened order (MCO). Surprisingly, there have been quite changed their mindsets over property global pandemic that spared no one many inquiries since May or June. However, only a owning as they could work remotely, globally,” Ching notes. up and are minimal number of clients wanted to buy because hence, residential properties may not Meanwhile, he notes that the low approving a of the loan margin cap removal. be a good investment in this context, interest rate environment will end higher loan “In fact, some of the buyers only knew about the stresses Eng. when the global economy resumes its initiative when they were informed that their third Although the government has re- growth pace, interest rates will adjust amount now, home mortgage application was approved with moved the 70% loan margin cap for a accordingly. it is still not more than 70% loan margin, meaning that with or third property purchase, Ching from “Do remember that buying prop- up to 90% of without the initiative, some investors are already Ideal Mortgage explains that the de- erty is a long-term investment, there ready to do shopping post MCO,” Woo shares. cision to lend is still in banks’ hands. will be a lot of uncertainties along the property He believes that over time, more people will To get the approval for the above 70% the journey that you need to take into price.” — Teh know about the new measure which will result loan margin still depends on the bor- consideration before making another in even greater interest from property investors. rowers’ loan repayment ability. commitment,” adds Ching.

Tips to get maximum loan margin for your third home

While some would consider the current environment as the “best” period to grab that third home, what should one watch 1 Good repayment record out for? “For the removal of loan-to-value ratio, selected primary 2 Prove of uninterrupted property markets will become more attractive due to lower income even during down payment required and developers will be able to sell pandemic time off the units with the measure. As for the real property gains tax, property sellers might be able to benefit from selling during that period too,” Ideal Mortgage Specialist Sdn Bhd 3 Having strong back up head of marketing Vincent Ching shares. savings However, he reminds buyers that the third property loan- to-value ratio is still subject to banks’ decisions. For those who are determined to land that third property and aim for 4 Knowing the bank maximum loan margin approval during this period, Ching offerings and provides a few useful criteria and tips. requirements EP 7 FRIDAY OCTOBER 9, 2020 FEATURE

Sunway Belfield Brought to you by Residence slated to be launched in early next year will come with SUNWAY PROPERTY SUNWAY 1,330 units.

proximity to amenities and tranquil environment. Adjacent to Kampung Attap is the Perdana Botanical Garden, a 91.6-care green lung within the city centre. Furthermore, an easy accessi- bility to the public transportation system is also a pull factor to home- buyers. The Kampung Attap area is served by monorail through Maha- rajalela station and KTM via Kuala Lumpur station, while other rail services including LRT and MRT are available a short distance from Kampung Attap’s borders. BY C HELSEY POH “New housing developments here have attracted expatriates and ampung Attap, a place young homebuyers,” See observes. linked closely to Ma- However, he also has concerns laysia’s colonial his- KAMPUNG ATTAP about traffic congestion and the -di tory and Kuala Lum- lapidated commercial development pur’s development, striving to keep up near Kampung Attap which might sits quietly surround- be the disadvantages of that area. ed by some prominent landmarks But the upcoming mega devel- Ksuch as Stadium Merdeka, Royal with the pace opments are expected to transform Museum, National Mosque of Ma- this part of KL city centre in the near laysia and the KL Sentral transpor- future, say consultants. tation hub. It is a hidden gem in the bustling city centre, located next to KL Sen- base into a regional financial and and basketball court. Notably, Growing slow tral and the Chinatown area, Kam- business hub. Makeover there is a sky deck and function but steady pung Attap is accessible via Jalan Joint-developed by Iskandar underway room at the rooftop which offer a In the short term, the outlook for Damansara, Jalan Kinabalu, Jalan Waterfront Holdings Sdn Bhd In fact, transformation of the area vantage point for the residents to Kampung Attap may be gloomy, no Syed Putra, Jalan Maharajalela and (IWH) and China Railway Engi- is in progress as some developers take in the city lights and breath- thanks to the Covid-19 pandemic Jalan Dewan Bahasa. neering Corp (M) Sdn Bhd (CREC), have spotted the potential of Kam- taking views. and current sluggish market con- Notably, Kampung Attap is less the 486-acre integrated develop- pung Attap and bringing in new Sunway Belfield is surrounded ditions. than 5km away from several mega ment has a gross development val- developments that could create by endless amenities and seamless “Due to Covid 19, in the short developments, namely Merdeka ue of RM140 billion. vibrancy to that area. connectivity. Within walking dis- term, prices of houses, especial- 118, (TRX) All these mega developments One of them is a residential de- tance, residents could reach Maha- ly high-rise apartments, will be and Bandar Malaysia. These de- are expected to have a spillover velopment by Sunway Property, rajalela Monorail station, Merdeka stagnant. In the long term, pric- velopments are expected to be the effect on Kampung Attap which named Sunway Belfield Residence. 118 tower and Petaling Street. es around the area will see some next growth catalysts for Malaysia. will see redevelopment happen Located next to Jalan Belfield In addition, for the kids’ educa- potential for escalation mainly To the northern boundary of soon in this quiet part of KL city and Jalan Istana, Sunway Belfield tion, Kuen Cheng primary and sec- due to the spillover effects from Kampung Attap is the Merdeka centre, says LaurelCap Sdn Bhd Residence is a freehold serviced ondary schools, Alice Smith Primary Bandar Malaysia and Merdeka 118,” 118 development. The 118-storey executive director Stanley Toh to apartment which is slated to be School and Taylor’s International Toh says. mega skyscraper is set to revitalise EdgeProp.my. launched in early 2021. School are within a 5km radius. See notes that redevelopment the former Merdeka Park area near Despite its proximity to the city The development will have three Besides Sunway Belfield, Bina might take some time, while near- Merdeka Stadium and Stadium centre, Kampung Attap still has blocks housing a total of 1,330 units, Puri has completed its new devel- term prices are expected to remain Negara off Jalan Stadium. sizable undeveloped land as well which will come in sizes ranging opment in the area in 2019, while low, but once the transformation Developed by Permodalan as pre-war shops, old office build- from 788 sq ft to 1,337 sq ft — all Tradewinds Corp and Salcon Bhd takes place, the prices will escalate Nasional Bhd (PNB) unit, PNB ings and hotels. designed in practical and functional are also planning new develop- following the demand. Merdeka Ventures, the Merdeka Toh notes that the redevelop- layouts. The units are priced from ments in the area. “With big developers like Sun- 118 development will have three ment of Kampung Attap is timely RM590,000 onwards. Metro Homes Realty Bhd ex- way Property coming in, I look for- phases. Phase 1 — the iconic as “the area needs a breath of new Facilities will include a wading ecutive director See Kok Loong ward to seeing a possible trans- Merdeka 118 — is scheduled to life for it to complement its near- pool, infinity pool, treehouse, ka- notes that Kampung Attap is an formation similar to how Sunway hold its topping out by the mid- by catalytic developments such as raoke room, gymnasium, yoga & ideal place to reside for city dwell- Velocity works for Jalan Peel in dle of next year and is expected Bandar Malaysia and Merdeka 118”. dance studio, co-working space ers, owing to its strategic location, Taman ,” he adds. to be completed in 2021. The tower will feature 83 floors of net lettable Grade-A office space at about 20,000 sq ft per floor, or a total of 1.65 million sq ft. It will EdgeProp.my

also house Park Hyatt Hotel and | Southeast Asia’s highest observa- tion deck, which will be more than 600m high. Around 4km from Kampung At- tap is the 70-acre integrated TRX development which is poised to be KL’s new CBD and Malaysia’s International Financial District. Meanwhile, Bandar Malaysia, YEN YEING PICTURES BY LOW which resumed in September this year, is another highly anticipated multi-billion ringgit development which is expected to turn the for- Zhongshan Building on Jalan Rotan which was built in the 1950s is now The Kuala Lumpur railway station completed in 1910 is notable for its mer Royal Malaysian Air Force an art hub with cafes, gift shops, book stores and creative studios. unique architectural design of mixing Eastern and Western features. EP 8 FRIDAY OCTOBER 9, 2020 NEWS The rising of a property giant?

PATRICK GOH | THE EDGE HARIS HASSAN | THE EDGE BY EDGEPROP.MY

PETALING JAYA: The proposed merger between Eco World Development Group Bhd (EcoWorld) and UEM Sunrise Bhd is the focus of the market this week as many anticipate the emergence of another property giant. Proponents and detractors of the proposed merger continue their debate over the reasons and merits or otherwise as they deem fit. The bigger question that the market is won- dering is if the deal goes through, who will lead the enlarged merged entity? Although in an earlier media interview, Teng- ku Datuk Seri Azmil Zahruddin, chairman of UEM Sunrise’s parent UEM Group Bhd, has stressed that the composition of the board and the management team will be decided by the In- tegration Committee, UEM Group is proposing for the chairman of the merged entity to come from UEM Sunrise. However, the statement did not answer the question. Currently, UEM Sunrise is led by Anwar Syahrin Abdul Ajib (managing director and chief executive officer of UEM Sunrise) while EcoWorld is helmed by Datuk Chang Khim Wah (president and CEO of EcoWorld). Both are sea- soned leaders that have the capabilities to drive the merged entity. Meanwhile, property sector analysts see the merger proposal could benefit both companies. Alliance DBS Research senior analyst Quah UEM Sunrise’s Anwar (right) and EcoWorld’s Chang are both influential leaders in the industry. He Wei was not surprised by the merger news as this was in the air since last September. Although UEM Sunrise has denied such plans Eco World respectively for new shares Both companies have strong brand last year, industry observers anticipate the pro- and warrants of UEM Sunrise, thereby names and their unique DNA in project Second largest posed merger could create greater synergies for becoming the holders of shares and planning, but why did UEM Sunrise landbank owner both companies. warrants in the enlarged UEM Sunrise. choose EcoWorld? Hong Leong Investment Bank, in its research “To me, the deal is neutral to the equity mar- Upon completion of the proposed Azmil of UEM Group said in an report dated Oct 6, described the merger as the ket as both are well-established developers in merger, EcoWorld will become a whol- email reply to The Edge Malaysia that formation of a property giant as the proposed Malaysia and the merger will not involve any ly-owned subsidiary of UEM Sunrise EcoWorld has ticked the boxes for its exercise will result in the two entities forming monetary transactions, hence it will not have and subsequently delisted from Bursa forte in township and integrated project the second largest listed property landbank any significant impact,” he told EdgeProp.my. Malaysia. planning as well as a balanced exposure owner in Malaysia. In a filing with Bursa Malaysia on Oct 5, 2020, in all key economic regions. The merged entity will see an enlarged un- UEM Group said the proposed merger will be car- “UEM Sunrise has a particular set developed landbank of close to 14,500 acres in ried out via an exchange of shares and warrants. Why EcoWorld? of challenges — geographically, it is Malaysia. According to Public Bank Investment The holders of shares and warrants in EcoW- Established in 1966, UEM Sunrise is concentrated primarily in the south- Bank data, this will make the merged entity be- orld will exchange their shares and warrants in well-known for its master developer ern region whereas in terms of skills come the second largest landbank owner after status in Mont’Kiara and Iskandar Put- and experience, it is relatively strong in Sime Darby Property (a total of 20,000 acres of eri. Besides the central and southern high-rise and in the central region. We landbank). regions, the company also has interna- therefore wanted to look for a partner It will be the largest in terms of gross devel- UEM Sunrise and EcoWorld tional presence in Durban, South Africa, which could help address some of these opment value at RM145.6 billion, as compared financial strength and Melbourne in Australia. challenges,” he said. to S P Setia Bhd’s GDV of RM139 billion. (as at Oct 6,2020) Meanwhile, EcoWorld which was According to him, UEM Sunrise has Quah from DBS noted that if the merger KEY METRICS UEM ECOWORLD formed in 2014 and helmed by Tan Sri reviewed a number of potential merger goes through, the combined landbank of both SUNRISE Liew Kee Sin, one of Malaysia’s influen- opportunities but EcoWorld appeared companies could last the merged entity 10 or Total assets 13,733.8 10,076.3 tial property chieftains, has 20 projects to be the most suitable candidate, for its 15 years. (RM million) spread across northern, central and reputable brand and sizeable presence Meanwhile, UOB Kay Hian Malaysia Research southern regions in Malaysia. throughout Peninsula Malaysia. takes a positive stance on the merger proposal, Borrowings (RM million) 4,188 3,408.9 as the merged entity’s landbank will allow for Cash (RM million) 788.9 261.2 more balance between central and southern region holdings. Gearing (x) 0.55 0.74 Effective remaining GDV and landbank REGION REMAINING GDV (RM BILLION) UNDEVELOPED LANDBANK (ACRES) “This will benefit UEM Sunrise’s landbank Market capitalisation 1,769.6 1,207.2 portfolio which has a high concentration of (RM million) UEM ECOWORLD MERGED UEM ECOWORLD MERGED southern region plots (75% of its landbank) vs Unbilled sales 1.8 4.4 SUNRISE ENTITY SUNRISE ENTITY Eco World’s 64% landbank exposure to central (RM billion) Central 17.4 43.9 61.4 534.3 2,546 3,080.3 Malaysia,” said the report dated Oct 6. The research firm also added that the merged Sales achieved in 1H2020 151 1,580 South 59.5 16.7 76.3 6,972.5 1,706.4 8,678.9 entity will enjoy a better price mix, from mass (RM million) North 0 8 8 0 327.1 327.1 market products to premium properties, Sales target 2020 1 2 Others* 0 0 0 2,404.5 0 2,404.5 compared to the current structure with Eco (RM billion) World being more focused on the premium Total 77 68.6 145.6 9911.3 4,579.5 14,490.8 Inventories (RM million) 484 799.6 segment. SOURCE: HONG LEONG INVESTMENT BANK *Land in Perak CONTINUES NEXT PAGE SOURCE: UOB KAY HIAN → EP 9 FRIDAY OCTOBER 9, 2020 NEWS

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Chart 1: After proposed merger A favourable deal for Group structure Second largest UEM Sunrise? post-merger Largest shareholder Some industry observers said World could leverage UEM Sun- shareholder (collectivity) the deal will be more favourable rise’s balance sheet for more Before proposed merger to UEM Sunrise as EcoWorld’s financial resources. Eco World Minority shareholders key shareholders would lose The proposed merger would UEM Group significant of UEM Sunrise their majority rights, listing sta- also allow EcoWorld to partici- Largest Bhd shareholders and Eco World tus and potentially their brand pate in the development of UEM shareholder (see Chart 1). Sunrise’s huge landbank of 9,162 Kenanga Investment Bank acres in Iskandar Malaysia as UEM Group Bhd in its research report (Oct 6) the latter has good expertise in said the deal is slightly more marketing and branding. UEM Sunrise (listed on Bursa Securities) of a positive for UEM Sunrise Kenanga Investment Bank as it stands to gain from EcoW- also noted that the enlarged 100% orld’s strengths in marketing entity does provide Ecoworld UEM Sunrise and township planning that a stronger financial partner (listed on Bursa could help boost sales, while — Khazanah (through UEM Securities) Eco World (delisted from also reducing earnings volatil- Group). This would be bene- Bursa Securities) ity from UEM Sunrise’s lumpy ficial for Ecoworld should the overseas contributions. weak economy persist for the SAM FONG | THE EDGE 27% Nevertheless, Hong Leong foreseeable future and impede Investment Bank analyst Andrew its ability to service existing debt Eco World International (listed from Lim Ken-Wern takes a different loads worth RM3.4 billion. Bursa Securities) view on the merger proposal. Despite there still being un- “EcoWorld has higher net certainties from now till end-Oc- gearing, the merging exercises tober, as EcoWorld would have SOURCE: UEM SUNRISE will see both companies com- to make a decision whether to plementing each other and say “yes” to the proposal, Lim Risk and challenges EcoWorld could improve the sees the deal as a go. In fact, there will be a slight negative and branding assimilation takes place company balance sheet while “I didn’t see any deterrence on the near-term implications as UEM over the longer term. tapping the huge landbank of as the deal is initiated by UEM Sunrise will be inheriting EcoWorld’s Furthermore, the company may UEM Sunrise in the southern Group, a wholly-owned sub- balance sheet, according to Lim’s ear- require a longer time to monetise region,” he told EdgeProp.my. sidiary of Malaysia’s sovereign lier research report dated Oct 6. its overall landbank as it already has The net gearing of EcoWorld wealth fund Khazanah Nasion- If the deal goes through, Liew’s He added that the merged entity a large landbank pre-merger (land- is higher at 0.64x compared to al, which owns 66% in UEM stake in the merged entity is will likely have to go through a gesta- bank increases to 14,500 acres from UEM Sunrise’s 0.48x, hence Eco Sunrise,” Lim added. expected to drop to just over 8%. tion period before workforce culture 9,900 acres).

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Overhang properties precipitate developers’ ‘hangover’

incurred by them will be passed on to buyers. housing schemes, they can be exclusively BY DATUK CHANG Proactive measures What happens if the developer is unable for the Malays’ wellbeing and shelter for KIM LOONG for a timely release to find enough bumiputera buyers for the their families. bumiputera lots? What if the state housing Already, there are numerous housing mechanism of board is unable to find qualified bumiput- projects on MRLs exclusively for the Ma- eal Estate & Housing Devel- ‘bumiputera’ lots era buyers? lays. You find launches via ‘Facebook’ like opers’ Association, Malaysia The National House Buyers Association The longer it takes to sell the bumiputera the recent one at Kota Kemuning @ Shah (REHDA) president Datuk (HBA) believes the move by the Perak state lots, the higher the cost for the developers Alam – freehold 2-story terraced houses at Soam Heng Choon has ex- government to speed up the release of bu- as their capital is locked down in those un- RM498,000 and advertisements in property pressed his concern on the miputera lots is a step in the right direction sold units. The holding cost will eventually portals for locations at Desa , increasing number of unsold and will ultimately benefit all in the long run. be transferred to future house buyers both , Taman Melawati, Sungei Long, bumiputera units in the country. Effective April 1, 2019, the Perak govern- bumiputera and non-bumiputera via the Taman Pelangi, Sentul and many others. R“The unreleased bumiputera lots con- ment allowed housing developers to apply house price. Most developers will factor in tribute to about 40% to 50% of the country’s for properties under the bumiputera quota their budget, the anticipated ‘holding cost’ overhang numbers… Everybody needs to to be released to other buyers if the prop- for a period of three years since the current Potential of Waqf lands play their roles in trying to resolve this issue. erties were unsold by the Perak Housing & mechanism dictates so. Waqf land or land endowments made by The state government controls the release of Property Board after six months. Developers have been complaining about Muslims have vast potential for development unsold bumi lots, so the state government It was reported that 50% of the bumiputera the release mechanism of bumiputera lots as not enough people have thought about needs to come in and help the situation,” he quota can be released to non-bumiputera as being not transparent, not consistent, doing this. In Malaysia, more than 88% of said at a recent press conference. buyers with these conditions: and differs from state to state. waqf land, amounting to about 30,000ha, is The National Property Information Cen- • The physical construction has achieved HBA had called for more transparent left under utilised or idle. tre’s (NAPIC) Property Market Status Report 30%. and consistent policies for the automatic If the potential of the waqf land is un- for the first half of 2020 showed there were • That 60% of the non-bumiputera lots have release of bumiputera lots and the move locked, it can help improve the socio-eco- 31,661 overhang residential units worth been sold. by the Perak government is indeed a step in nomic status of some Muslims, both owners RM20.03 billion, an increase by 3.3% in vol- The balance 50% of the bumiputera quota can the right direction. Such policies that ben- who will get development profits and buy- ume and 6.4% in value from the 30,664 units be released with the following conditions: efit the rakyat and bring down the costs of ers who can get a discounted price for the worth RM18.82 billion recorded in 2H2019. • After physical construction has reached 80%. compliance must be heralded. property. It will achieve our government’s Johor retained the highest number and • That 90% of the non-bumiputera lots have aspiration to provide affordable housing for value of residential overhang in the country been sold. those in need of it. It was reported in 2017 with 6,166 units worth RM4.74 billion, ac- The ‘Dasar Kerajaan Perak’ (Perak gov- Malay reserve land: that there were more than 10,120ha of waqf counting for 19.5% and 23.7% respectively, ernment policy) vis-à-vis bumiputera release Enormous potential land in the country that can be developed of the national total in the period. mechanism is still subsisting. Obviously, into commercial and residential projects. It also maintained its reign as the highest those developers who sell bumiputera lots to for development We suggest that the relevant authorities serviced apartment overhang state in 1H2020 non-bumiputera buyers without the state’s ‘Tanah Rezab Melayu’ or Malay reserve land help unlock their value since there is a high with 73.7% share in volume (15,986 units) prior approval would be subjected to fines (MRL) are different compared to bumiput- demand for homes within certain urban are- and 76.7% share in value (RM14.67 billion), or double the levy payment. era quotas. MRL are land, which can only be as. Some of the waqf lands are in high-value with almost all of these overhang units being Such proactive initiatives should be em- owned and held by Malay owners. areas, facilitating profitable development. in Johor Bahru district. ulated by other states in Peninsular Malay- Compared to bumiputera quotas, MRL are Most of the property overhang was due to The overhang in the serviced apartment sia. With this step, developers will be able to virtually impossible to be legally ‘released’ to lack of emphasis on market studies related subsector continues to rise and form the bulk reduce ‘holding costs’ and thus bring down non-Malays. Furthermore, there are several to less strategic locations and it is timely to of commercial property overhang, record- house prices provided they do not conven- other characteristics that distinguish MRL undertake the development of waqf lands. ing a total of 21,683 units valued at RM18.64 iently ‘up their profit margin’. from bumiputera quotas. The following are Priority must be given to the formulation of billion, up by 26.5% in volume and 24% in There are many costs incurred in building a few of those features: the Waqf Land Act. value against 17,142 units worth RM15.04 a house that common buyers can relate to • All property built on the MRL are to be We envisage and our aspiration is that a billion recorded in the June to December such as the costs of the land and the con- exclusively sold to Malays only house currently costing RM400,000 be ‘sold’ 2019 period. struction including labour and building • Malay owners are not allowed to rent out or rather ‘let on long lease’ for half the price materials. However, an important cost fac- properties built on MRL or the lands to in a waqf land scheme — after all, isn’t it tor that many people may overlook is time non-Malays just the construction price and compliance Overhang — the longer the housing developer or the • All businesses that operate on MRL must costs that one has to bear? Of course, this is building contractor takes to finish building be owned by Malays a subject for another discussion. status by state, a project or to sell off their properties, the There is great potential in the develop- higher the cost incurred. ment of these MRL especially those of reserve first half of 2020 Under the New Economic Policy, property land located in the urban and not so rural Conclusion (units) developers are required to reserve a certain areas. It is the product that is developed on National House Buyers Association humbly Perlis 44 number of units of their developments, say the land that will ultimately determine the proposes, vis-a-vis the bumiputera quota Labuan 69 a minimum of 30%, for only bumiputera economic value of the land. (and please bear in mind that this is not purchasers. The bumiputera quota differs The reason MRL lagged behind in de- exclusively for the Malays but also covers Putrajaya 114 from state to state and usually ranges from velopment was the failure of their owners the other ethnic groups which fall under the Kelantan 137 30% to 50%. Furthermore, these bumiputera to view their land as a strategic economic category of ‘bumiputera’) for the state and lots are to be offered at a discount ranging asset. Why don’t they see its potential? The Federal authorities through the National Terengganu 445 from 5% to 15%. government has to look into this as part of Land Council to device a standardised and Melaka 705 For housing developers, it would be quite its agenda to uplift the economic develop- transparent system for unlocking the bumi- mind boggling to understand and meet the ment of the Malays. Looking at its huge po- putera quota for overhang properties in the N. Sembilan 959 various states’ policies with regards to this tential, much more has to be done to make footsteps of the Perak state government. issue. They are after all, not charitable the property development sector more pop- Perhaps, they could initiate a working Kedah 1,341 organisations and any additional cost ular among the Malays. Once developed into group committee to study the ‘nuts and bolts’ Sabah 1,530 for such an objective calling in the expertise from the authorities, academia, civil society, Pahang 1,698 REHDA and all other stakeholders. Sarawak 1,904 Total residential overhang: Datuk Chang Kim Loong is KL 3,224 the Hon. Secretary-General Penang 3,816 31,661 units of the National House Buyers Association (HBA). Perak 4,644 HBA can be contacted at: Selangor 4,865 Email: [email protected] Website: www.hba.org.my Johor 6,166 Tel: +6012 334 5676 EP 11 FRIDAY OCTOBER 9, 2020 FOREIGN NEWS

Auctioneer’s gavel going digital as auction events remain barred

BY TIMOTHY TAY / EDGEPROP SINGAPORE PROPNEX SINGAPORE: Real estate agencies have not been able to hold in-per- PICTURES BY ERA son property auction events since April this year. Most physical events like auctions were cancelled during the “circuit breaker” period, which started on April 7. While the primary and resale market segments have gradual- ly resumed some sales and mar- keting activities over the past two months, auction events remain off the table for now. ERA Realty Network and Pro- pNex Realty — the two largest real estate agencies by number of agents — have introduced alterna- tive ways to conduct their auction activities. On Sept 28, ERA was the first property agency here to host a fully virtual auction that allowed reg- istered buyers to remotely bid for This detached house on Tamarind Road, which sits on a 9,599 sq ft PropNex was marketing this conservation shophouse on Tanjong properties in real time. Over 50 par- plot, was put up for auction with a guide price of S$7.4 million or Katong Road in its closed bidding exercise in August. ticipants attended the 40-minute S$842 psf on the land area. live event over video conferencing platform Zoom. tached house on Toh Tuck Road. auction online. The number of in- ruptcy due to effects of the US-Si- market this year. The bottoming Meanwhile, PropNex held its The freehold property is within a dividuals registered for the virtual no trade war and the low global out of the auction market “would second closed bidding exercise on three-storey mixed landed hous- auction also doubled as compared demand caused by the ongoing very much depend on whether Sept 22. This alternative method ing estate, and sits on a 3,340 sq ft to physical auctions held previ- Covid-19 pandemic, we foresee an physical auctions are allowed to of sale was initially utilised two plot. It had a guide price of S$3.5 ously. With this benchmark set, increase in the number of mortga- resume, even as the government months ago. million (RM10.7 million), which we look forward to spearheading gee sales properties in the coming slowly eases measures regarding translates to S$1,048 psf on the more innovative initiatives to boost months. Some businesses may opt the number of persons at events”, Virtual action land area. the real estate market,” says Chua. to sell their properties to secure she adds. ERA Realty Network CEO Jack Chua The 2½-storey house on Toh Another mortgagee property is additional funding for cash flow says the virtual property auction is Tuck Road was sold for S$3.4 mil- a two-storey detached house on continuity.” Success rate “designed to provide convenience lion (S$1,018 psf) at ERA’s first vir- Tamarind Road, which was put on Separately, PropNex’s closed Compared to past crisis periods — and peace of mind for buyers, sell- tual auction on Sept 28. sale with a guide price of S$7.4 mil- bidding exercises enable private like SARS in 2002 and the global ers and agents, especially during The property was eventually sold lion. This property was previously treaty deals to be accepted more financial crisis (GFC) of 2007-2008 the current situation. It also ena- for S$3.4 million (S$1,018 psf) at on the market for S$8.8 million in than a week before a set closing — the auction market during this bles us to meet the rising needs the virtual auction. Bidding began March this year in a mortgagee date. But if a bid has been submit- Covid-19 pandemic has record- of our tech-savvy clients who are at S$3 million and four groups of sale and was available through ted, no private treaty is allowed ed more mortgagee sales during now ready to make their property buyers cast a total of 15 bids. private treaty. and all offers must go through the the period. The success rate is also purchases online”. Based on its current dilapidated The freehold property is in a bidding box. Thus, the seller may higher. Eight properties were up for sale state, the new owner would likely two-storey, mixed-landed hous- choose the best offer via private trea- Commenting on the perfor- during the virtual auction, includ- purchase the house with the inten- ing estate off Yio Chu Kang Road. ty or can stick to the closing date to mance of the ERA auction team ing five residential properties, two tion of rebuilding it into a brand- It sits on a spacious, 9,599 sq ft plot determine the sales outcome. so far this year, Chua says: “Even commercial units and an industri- new home. and the guide price translates to According to a PropNex spokes- though we closed fewer units com- al unit. Of these, four residential “It is a promising start to the S$842 psf on the land area. The sev- person, the auction team “received pared to last year, the total sales properties and a commercial unit property auction community as we en-bedroom house also features a responses and numerous enquiries price transacted increased by 30% were mortgagee sales. bring together agents and potential swimming pool, a basketball court, and bids” for the prime, freehold [compared to a year ago]. These One of the mortgagee sale prop- buyers; as well as industry players and a ground level compound with corner four-storey conservation transactions were done through erties was a 2½-storey, semi-de- who were exploring to bring their parking space for 10 cars. shophouse building at 240 Tan- private treaty deals.” Other mortgagee sale units are jong Katong Road. However, noth- He says that the pandemic sit- a three-bedroom unit at 111 Emer- ing was transacted (under closed uation has accelerated the digital ald Hill along Emerald Hill Road; a bidding exercise) for the month transformation of the real estate in- three-bedroom unit at Riz Haven in of August. dustry, and has shown that “people Jalan Loyang Besar; and a new of- The closed bidding exercise in are more willing to accept the idea fice unit at Vision Exchange, which September saw eight properties go of purchasing properties online”. is located in Jurong East. up for sale, comprising four private Chua adds that all the sellers were residential properties, two five- open to the concept of a virtual Global economic climate room HDB flats, a conservation auction by ERA, which is notable “With the global economic climate shophouse at 240 Tanjong Katong given the proportion of mortgagee and dark hiring outlook brought Road and an industrial unit. sale listings put up. about by the pandemic, we do fore- PropNex says the Tanjong Ka- “We are planning to organise the see many will face financial diffi- tong Road shophouse was sold via virtual auction on a regular basis culty and they might opt to have closed bidding on Sept 22 but de- until the physical auction is al- more cash on hand by mortgaging clined to disclose the selling price. lowed, and we will review the effec- out their properties, leading to a They have also received bids for the tiveness of both formats. Since the potential rise in residential mort- other properties as well. start of the Covid-19 circuit breaker, gage property listings,” Chua notes. PropNex’s head of research and the usual face-to-face property auc- He adds that the next few content Wong Siew Ying says that tion has been suspended. However, months could see more commer- the absence of physical auction ac- the demand for property auction cial and industrial units going tivities since April this year means services is still present from both The 2½-storey house on Toh Tuck Road was sold for S$3.4 million under the hammer as well. “With it would not be meaningful to as- property owners and financial in- (S$1,018 psf) at ERA’s first virtual auction on Sept 28. some businesses filing for bank- sess the performance of the auction stitutions,” he concludes. EP 12 FRIDAY OCTOBER 9, 2020

FRIDAY AUGUST 30, 2019 Click/tap on SPOTLIGHT each listing Commercial Residential to visit the Properties for sale and rent listing’s page

RM1,100,000 RM270,000 RM1,680,000 RM700/mth Selayang 18, Selayang, Selangor Pangsapuri Seri Pelangi, Bukit Kemuning, Shah Alam, Taman Bukit Segar, Cheras, Type: Condominium Tenure: Leasehold Bukit Mertajam, Penang Selangor Selangor Built-up: 2,232 sq ft Bedroom: 4 Type: Condominium Tenure: Freehold Type: Bungalow Tenure: Freehold Type: Flat Tenure: NA Bathroom: 4 Built-up: 1,079 sq ft Bedroom: 3 Built-up: 4,247 sq ft Land size: 4,004 sq ft Built-up: 650 sq ft Bedroom: 3 Bathroom: 1 Bathroom: 2 Bedroom: 6 Bathroom: 7

Nor Azam Mohd Radzi (REN 35545) Nor Idawaty Binti Roslan (REN 33480) Syaemann Wan Noor (REN 42321) Norazian (REN 18184) TOGETHER PROPERTIES (E (3) 0503) AZMI & CO (ESTATE AGENCY) SDN BHD (E (1) 0553) WEISE INTERNATIONAL PROPERTY CONSULTANTS ACEAKL ESTATE AGENCY SDN BHD (E (1) 1697) +6018 372 5135 +6017 443 7100 SDN BHD (VE (1) 0241) +6013 502 6744 +6018 271 7082

SOLD FOR DONE DEAL RM1.75 mil (RM564.88 psf) Penthouse unit, Bayu Angkasa, Bukit Bandaraya, KL Concluded by: Swiss Tan (PEA 2710) of IQI Realty Sdn Bhd (+6013 228 8881) When: May 2020 RM680,000 RM102,000/mth The Zizz, Damansara Damai, Completed by Kiara buyer as the penthouse unit Telok Gong, Port Klang, Selangor Selangor Noteworthy Development in 2005, Bayu was sold at below market price. Type: Factory Tenure: Leasehold Type: Condominium Tenure: Freehold Angkasa is a low-density luxury “The seller invested in the Built-up: 120,000 sq ft Land size: 217,800 sq ft • Built-up: 3,098 sq ft Built-up: 1,228 sq ft Bedroom: 4 Bathroom: 2 condominium project sited unit through his company, • Freehold on top of Bukit Bandaraya — eyeing rental income and • 5 bedrooms and providing a panoramic view of capital gain. Meanwhile, the Sonia Soh (REN 32743) Norman Soo (REN 20639) 5 bathrooms the Kuala Lumpur city centre buyer is looking for a suitable THE ROOF REALTY SDN BHD (E (1) 1605) CID REALTORS SDN BHD (E (1) 1855) • Semi-furnished unit and Damansara skyline. property for his growing family. +6017 285 2220 +6017 309 0128 • Top floor penthouse unit Bayu Angkasa houses 232 He likes the location, the condominium units built condition of the property and • Facilities: Tennis court, gymnasium, over three 14-storey blocks the facilities,” Tan noted. swimming pool, with an offering of up-to-par According to EdgeProp squash court, facilities such as tennis court, Research, Bayu Angkasa hydrotherapy spa, gymnasium, swimming pool, recorded four transactions in salon, mini market, squash court, hydrotherapy 2019, with the average selling function hall, spa, salon, mini market, price at RM914,500 or RM583 library, sauna and function hall, library, sauna and psf in 2019. There are two steam room and steam room and launderette. transactions recorded in 2020 launderette Some of the amenities as at end-September, with an • Within 2km distance nearby are shopping malls, average transacted price of from college and university, RM1.6 million or RM516 psf. RM30,000,000 Village, Bangsar schools, banks, eateries and As of end-September, there RM16,000/mth Shopping Centre and commercial hubs. are nine Bayu Angkasa units Jalan Kapar, Klang, Selangor 5km away from Mid Real estate agent of IQI listed for sale in EdgeProp. Vertical, , Type: Industrial land Tenure: Freehold Valley Megamall. Realty Sdn Bhd Swiss Tan my. The average asking price is Kuala Lumpur Land size: 7.2 acres Well connected by concluded the deal of a unit RM1.51 million or RM813 psf. Type: Office Tenure: Freehold highways such as in Bayu Angkasa during the Meanwhile, three rental Built-up: 2,659 sq ft The New Pantai Movement Control Order listings have an average asking Expressway and (MCO) period. She described monthly rental of RM2,500 or SP Lee (REN 40386) Federal highway. Ong Chee Yong (REN 22613) REAPFIELD PROPERTIES (HQ) SDN BHD (E (1) 0452) it as a good value deal for the RM2.60 psf. POLYGON PROPERTIES SDN BHD (E (1) 1714) +6018 382 9338 +6018 366 8687

RM2,700,000 RM698,000 RM490,000 RM710,000 Tambun, Perak 280 Park Homes, Puchong, Petaling Jaya, Selangor 100 Residency, , Type: Bungalow Tenure: Leasehold Selangor Type: Factory Tenure: Leasehold Kuala Lumpur Built-up: 7,631 sq ft Land size: 6,160 sq ft Type: Condominium Tenure: Leasehold Built-up: 2,592 sq ft Bathroom: 2 Type: Condominium Tenure: Freehold Bedroom: 8 Bathroom: 8 Built-up: 2,422 sq ft Bedroom: 4 Built-up: 1,447 sq ft Bedroom: 4 Bathroom: 3 Bathroom: 4

Ong Eng Tien (REN 18677) Paul Lee (REN 40805) Paulson Loh (REN 01059) Pearly Wee Sl (REN 35561) REAPFIELD PROPERTIES (PUCHONG) SDN BHD FULL HOMES REALTY SDN BHD (E (1) 1501/8) CITY REAL PROPERTIES (E (3) 0465) ONE WSM PROPERTY (KL) SDN BHD (E (1) 1823/6) (E (1) 0452/8) +6018 316 3950 +6012 257 1627 +6016 272 2662 +6017 608 1899 EP 13 FRIDAY OCTOBER 9, 2020

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RM550,000 RM399,000 RM738,000 RM947,711 Eco Grandeur, Kuala Selangor, 3 Elements, Seri Kembangan, Kota Kemuning, Selangor The Park Sky Residence, Selangor Selangor Type: Terraced house Tenure: Freehold Type: Condominium Tenure: Freehold Type: Terraced house Tenure: Freehold Type: Condominium Tenure: Freehold Built-up: 2,160 sqft Land size: 2,175 sq ft Built-up: 1,044 sq ft Bedroom: 3 Bathroom: 2 Built-up: Leasehold Land size: 1,635 sq ft Built-up: 752 sq ft Bedroom: 2 Bathroom: 2 Bedroom: 4 Bathroom: 3 Bedroom: 4 Bathroom: 3

Peet Mokhtar (REN 35678) Sr Mike Wong (REN 39039) Peter How (REN 42841) Peter Pan (REN 39736) ALLIED GROUP PROPERTY CONSULTANT (KELANTAN) CBD PROPERTIES SDN BHD (E (1) 1197) GS REALTY SDN BHD (E (1) 1307) THE ROOF REALTY (E (1) 1605) SDN BHD (VE (1) 0189/1) +6013 209 7611 +6012 565 8876 +6012 296 7750 +6016 930 3439

RENTED FOR

RM8,000/mth (RM 2.27 psf) DONE Hampshire Park Condominium DEAL unit, Kuala Lumpur Concluded by: Angie Thean (REN 13000) of ONE WSM Property (KL) Sdn Bhd (+6012 333 0073) When: August 2020 RM438,000 RM1,750,000 Casa Tiara, Subang Jaya, Selangor Developed by Tan & Tan beginning of this year. The SS 1, Petaling Jaya, Selangor Type: Condominium Tenure: Freehold Noteworthy Developments Bhd, Hampshire process of finding a new tenant Type: Bungalow Tenure: Freehold Built-up: 800 sq ft Bedroom: 3 Bathroom: 2 Park Condominium is a was slowed down due to Built-up: 4,000 sq ft Land size: 4,500 sq ft • Low-floor unit freehold luxury condominium restrictions of the movement Bedroom: 5 Bathroom: 4 • Built-up: that comprises 194 units in two control order (MCO). 3,521 sq ft blocks on a 2.27-acre tract in “Although a monthly rent Philip CK Ong (REN 32684) • 4+1 bedrooms; Kuala Lumpur city centre. of RM8,000 is slightly lower Priya K Sritharan (REN 01528) I-PROP REALTY (USJ) SDN BHD (E (1) 0990/2) 5 bathrooms Angie Thean from ONE than other units of similar size, IQI REALTY SDN BHD (E (1) 1584) +6016 220 0780 WSM Property (KL) Sdn Bhd the owner has decided to rent +6012 205 0168 • Semi-furnished said although Hampshire Park his unit to a genuine tenant, • Facilities: Swimming Condominium is considered an instead of continuing to wait for pools, sauna, “old” property in the city centre, another tenant,” she said. gymnasium, tennis it’s well sought after by tenants As at Sept 24, 2020, court, BBQ area and for its location, right in the heart Hampshire Park Condominium 24-hour security. of the city centre with proximity has 32 rental listings on • Nearby amenities: to workplaces and various EdgeProp.my with an average Shopping malls, amenities. asking rent of RM8,503 restaurants and She pointed out that the (RM2.90 psf) per month. cafes, schools, shops, tenant is a French national who Meanwhile, there were 23 sale LRT and monorail signed for a two-year tenancy. listings asking for an average stations, Go KL City “The tenant loves this spacious price of RM2.09 million or Bus, KLCC Park and unit that has en suite bedrooms RM923 psf. nightlife spots and a sizable living area which According to data from RM480,000 • Accessible via main meets the needs of his family EdgeProp Research, two RM1,100,000 Desa Coalfields, Sungai Buloh, roads including with three children,” Thean units in Hampshire Park Puri Tower, Puchong, Selangor Selangor Jalan Tun Razak added. Condominium were sold thus Type: Condominium Tenure: Leasehold Type: Terraced house Tenure: Freehold and Ampang-Kuala She noted that the owner far in 2020, with an average Built-up: 2,393 sq ft Bedroom: 3 Built-up: 2,000 sq ft Land size: 1,431 sq ft Lumpur Elevated of the unit had bought the transacted price of RM1.59 Bathroom: 3 Bedroom: 3 Bathroom: 3 Highway (AKLEH) and property for rental investment million or RM636 psf. In 2019, Jalan Ampang purposes. “After the previous three units changed hands with Raja Azim (REN 26268) tenant moved out, the unit an average price of RM2.60 Rasdan (REN 40065) RENSTAR PROPERTIES (E (3) 1837) has been vacant since the million or RM684 psf. IREAL PROPERTY SDN BHD (E (1) 1747) +6012 356 3432 +6012 283 3893

RM810,000 RM650,000 RM19,500,000 RM680,000 Verve Suites, Mont’Kiara, Rasah Kemayan, Seremban, Pulau Indah Industrial Park, Klang, Taman Sentosa, Klang, Selangor Kuala Lumpur Negeri Sembilan Selangor Type: Terraced house Tenure: Freehold Type: Condominium Tenure: Freehold Type: Bungalow Tenure: Freehold Type: Industrial land Tenure: Leasehold Built-up: 2,600 sq ft Land size: 1,430 sq ft Built-up: 826 sq ft Bedroom: 2 Bathroom: 2 Built-up: 3,300 sq ft Land size: 6,972 sq ft Land size: 5.95 acres Bedroom: 6 Bathroom: 4 Bedroom: 6 Bathroom: 5

Raynaldo Lopez (REN 15561) Rena Rahman (REN 26499) Steven Chia (REN 03571) Riva (REN 41480) PREMIUM EQUITY (E (3) 1504) WEISE INTERNATIONAL PROPERTY CONSULTANTS ESPRIT ESTATE AGENT SDN BHD (E (1) 1448) ESPRIT ESTATE AGENTS SDN BHD (E (1) 1448/3) +6012 603 9665 SDN BHD (VE (1) 0241) +6018 327 8005 +6012 774 5135 +6012 205 0001 EP 14 FRIDAY OCTOBER 9, 2020

FRIDAY AUGUST 30, 2019 Click/tap on SPOTLIGHT each listing Commercial Residential to visit the Properties for sale and rent listing’s page

RM800,000 RM708,000 RM574,200 RM2,600/mth USJ 19, USJ, Selangor 280 Park Homes, Puchong, Seremban, Negeri Sembilan Ipoh, Perak Type: Terraced house Tenure: Freehold Selangor Type: Bungalow Tenure: Freehold Type: Semidee house Tenure: Freehold Built-up: 1,835 sq ft Land size: 1,650 sq ft Type: Condominium Tenure: Leasehold Built-up: 1,726 sq ft Land size: 4,250 sq ft Land size: 2,240 sq ft Bedroom: 4 Bedroom: 3 Bathroom: 3 Built-up: 2,422 sq ft Bedroom: 4 Bedroom: 4 Bathroom: 2 Bathroom: 3 Bathroom: 4

Samuel Sing (PEA 2639) Samuel Sing (PEA 2639) San Wai Hong (REN 34629) Steven Eng (PEA 2310) REAPFIELD PROPERTIES (PUCHONG) SDN BHD REAPFIELD PROPERTIES (PUCHONG) SDN BHD VIVAHOMES REALTY SDN BHD (E (1) 1670/3) GS REALTY SDN BHD (E (1) 1307) (E (3) 1627) +6012 279 0150 (E (3) 1627) +6012 279 0150 +6016 345 9809 +6018 954 0680

RM2,500/mth RM670,000 RM1,250/mth RM7,150,000 Tamarind Square, Cyberjaya, TTDI Grove, Kajang, Selangor Trefoil, Setia Alam/Alam Taman Maluri, Cheras, Selangor Type: Terraced house Tenure: Freehold Nusantara, Selangor Kuala Lumpur Type: Office Tenure: Freehold Built-up: 2,300 sq ft Land size: 1,540 sq ft Type: Condominium Tenure: Freehold Type: Shoplot Tenure: Freehold Built-up: 1,174 sq ft Bathroom: 2 Bedroom: 4 Bathroom: 3 Built-up: 486 sq ft Bedroom: Studio Built-up: 4,320 sq ft Land size: 4,320 sq ft Bathroom: 1 Bedroom: 2 Bathroom: 1

Sandy Lim (REN 05454) Sarina Saleh (REN 23155) SC Sam (E 1983) Serene Ng (REN 02255) CID REALTORS SDN BHD (E (1) 1855/2) FIRDAUS & ASSOCIATES PROPERTY PROFESSIONALS ORIENTAL REAL ESTATE SDN BHD (E (1) 1503) CENTRICITY REALTY (E (3) 178) +6016 301 2015 SDN BHD (VE (1) 0091/4) +6017 259 4029 +6012 304 8288 +6019 311 7892

RM520,000 RM399,000 RM565,000 RM3,000,000 Ulu Tiram, Johor Melati (Fasa 3), Nilai, Prima Saujana, Kajang, Selangor TSB Commercial Centre, Type: Terraced house Tenure: Freehold Negeri Sembilan Type: Terraced house Tenure: Freehold Sungai Buloh, Selangor Built-up: 1,760 sq ft Land size: 1,760 sq ft Type: Terraced house Tenure: Freehold Built-up: 1,650 sq ft Land size: 1,400 sq ft Type: Shoplot Tenure: Freehold Bedroom: 4 Bathroom: 3 Built-up: 2,000 sq ft Land size: 1,800 sq ft Bedroom: 4 Bathroom: 3 Built-up: 6,010 sq ft Land size: 1,820 sq ft Bedroom: 4 Bathroom: 3

Shahrill Azuan (REN 22930) Shahrul Nizam (REN 24288) Shahrul Ridhwan (REN 29515) Shean Chang (REN 24470) KAIZEN REALTY (E (3) 1804) AJC PROPERTY SURVEYORS SDN BHD (VE (1) 0202) ACEAKL ESTATE AGENCY SDN BHD (E (1) 1697) KITH AND KIN REALTY SDN BHD (E (1) 1933) +6013 371 8152 +6019 619 7278 +6017 265 7503 +6017 335 8911

RM600,000 RM2,480/mth RM1,200/mth RM1,300/mth Cameron Towers, Petaling Jaya, The Forum, , Bandar Enstek (Timur), Labu, Jalan Wangsa Delima 2A, Selangor Kuala Lumpur Negeri Sembilan , Kuala Lumpur Type: Condominium Tenure: Freehold Type: Condominium Tenure: Freehold Type: Terraced house Tenure: Freehold Type: Office Tenure: Leasehold Built-up: 1,507 sq ft Bedroom: 3 Bathroom: 2 Built-up: 1,206 sq ft Bedroom: 3 Land size: 1,800 sq ft Bedroom: 3 Built-up: 800 sq ft Land size: 900 sq ft Bathroom: 2 Bathroom: 3 Bathroom: 2

Siew Lee Tan (REN 01666) Simon Soon (REN 29033) Suthish Nair (REN 10052) SK Kumar (REN 34863) TECH REALTORS PROPERTIES SDN BHD (E (1) 1492) TECH REAL ESTATE SDN BHD (E (1) 1537) SQUARE FEET REAL ESTATE (E (3) 1547) CID REALTORS SDN BHD (E (1) 1855) +6012 458 3016 +6017 332 2880 +6019 666 0016 +6012 223 5144 EP 15 Friday october 9, 2020 bandar puncak alam EdgeProp.my’s #AreaOf TheWeek

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