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ep4+5 NEWS ep11 DEALMAKERS ep12 FEATURE ep14 HOME IDEAS theedgeproperty.com Show and sell Prices of luxury ‘Kitty’ homes creates a buzz residences increase 3.9% worldwide – a study in contrasts FromFrom ricketyrickety ooldld ggovernmentovernment qquartersuarters ttoo lluxuryuxury ccondos,ondos hhistoricalistorical landmarks and a modern transit hub, real estate values in Brickfi elds are hitting new highs. Analysis by theedgeproperty.com found average prices of non-landed residential properties had spiked 25% in 3Q2014 from a year ago. See story on Pages ep8 & 9.

SAM FONG/THEEDGE PROPERTY FRIDAY MAY 15, 2015 • THEEDGE FINANCIAL DAILY EP2 PROPERTY | NEWS

ON NEWS ROUNDUP For more news go to theedgeproperty.com

Sunway proposes RM1.8 bil ment with Indonesia property de- (with BRT -Klang) mixed-use development in veloper Mulia Group for the de- and Klang (with KTM Komuter). Kelana Jaya velopment rights to its Signature Included in the proposed align- Sunway Bhd is proposing a mixed- Tower in TRX. Th e transaction is ment is a 2km underground stretch use development across 17 acres of valued at RM665 million. in Shah Alam, Selangor. land in Kelana Jaya, Selangor, with Th e announcement came a week Construction is scheduled to an estimated gross development after news broke of a controversial commence in 2016 upon approv- value (GDV) of RM1.8 billion. It will purchase by Lembaga Tabung Haji al from the authorities, and to be consist of serviced apartments and of a 0.64ha plot from 1MDB Land completed by 2020. LRT3 will be- retail shops, with the fi rst launch for RM188.5 million. Th is caused gin servicing commuters by 2025. expected at end-2016. public outrage, prompting the pil- Brickfi elds on Th e project will be developed grim fund to announce it was sell- KL-Singapore HSR Boustead and Ikano unveil the move over fi ve years. Th e area is acces- ing the condominium land as soon terminus to be sited at MyTown mall in Cheras sible via major highways such as as possible. Jurong Country Club Boustead Ikano Sdn Bhd, a joint Lebuhraya Damansara-Puchong, The Singapore government has venture between Boustead Holdings Federal Highway, New Klang Val- announced that it has earmarked Bhd and Ikano Pte Ltd, has unveiled ley Expressway and Subang Airport the current site of Jurong Country MyTown, a new shopping centre set Highway. It is also close to the Setia Club (JCC) for the Kuala Lum- over 18 acres, which opens in the Jaya KTM and Sunway-Setia Jaya pur-Singapore high-speed rail second half of 2016. Bus Rapid Transit-Sunway Line (HSR) terminus. “We will be part of a signifi cant and sits in the vicinity of Kelab Golf To minimise the HSR’s land take, evolution in Cheras, Ampang and Darling Negara Subang. all depots and stabling facilities will the surrounding areas,” said Boust- Mont’Kiara Sunway announced on May 11 be located in . ead Holdings Bhd deputy chairman that Sunway Dimension Stones Th e Singapore Land Authority and group managing director Tan Sri continues Sdn Bhd had signed two sale and has gazetted the acquisition of the Lodin Wok Kamaruddin at the event. to draw purchase agreements with Kelana LRT3 aimed at spurring JCC site, which must be returned MyTown will off er 460 retail out- investors and Resorts Sdn Bhd and its unit Viva development in Klang to the government by November lets over fi ve fl oors and has a net Variasi Sdn Bhd to purchase the The proposed alignment of the next year, under its Land Acqui- lettable area of 1.1 million sq ft. To homebuyers land parcels for RM286 million or 36km Light Rail Transit Line 3 sition Act. date, the mall is 50% taken up and RM386.31 psf. (LRT3), which will connect Bandar The 67ha site is set to be re- occupancy is expected to reach 85% Utama to Klang, is expected to spur developed as a mixed-use de- when it opens. Th e anchor tenant development and reduce conges- velopment with office, hotel, is Parkson; others include Village tion in mature areas, said Prasarana retail and entertainment facili- Grocer, Celebrity Fitness, H&M and Malaysia Bhd group managing di- ties. Family-friendly recreational a Mango full-concept store. rector Azmi Abdul Aziz on May 12. amenities are a possibility, given The shopping centre is located The proposed alignment will the waterfront location. The HSR on Jalan Cochrane, and beside the end in Johan Setia, Klang — the terminus, which will largely be new Ikea shopping centre in Cheras, proposed location for the last sta- underground, is expected to take which is expected to open at the end tion, and the main depot for the up about 12ha. of this year. MyTown will be adjacent railway scheme. Th is was the only site in Jurong to the Cochrane underground MRT According to Azmi, RM9 billion East that was considered for the station scheduled to open by 2017. has been allocated for LRT3, ex- terminus, said the Urban Rede- Boustead will also be develop- Indonesia’s Mulia Group buys cluding land acquisition cost. LRT3 velopment Authority (URA) at a ing a condominium adjacent to RM665 million TRX land will have 25 stations along its route, media briefi ng on May 11. the mall with an estimated GDV of The Edge Communications Sdn Bhd (TRX) devel- and be integrated with existing and By 2030, Jurong East will be RM1 billion. It will off er 800 units (266980-X) Level 3, Menara KLK, No 1 Jalan PJU 7/6, oper 1MDB Real Estate, a whol- future public transport networks at served by four MRT lines — the at a selling price of RM1,000 psf. Mutiara Damansara, 47810 Petaling Jaya, ly-owned unit of debt-laden 1MDB, four stations — 1Utama (with MRT existing North-South and East-West Th e investment cost of the entire Selangor, Malaysia announced on May 13 that it had Sungai Buloh-), Station lines, and the new Jurong Region project is in excess of RM2 billion, signed a sale and purchase agree- 3 (with Kelana Jaya Line), Sirim and Cross Island lines. said Lodin.

Publisher and Group CEO Ho Kay Tat

Editorial For News Tips/Press Releases If you have any real estate-related events, email us at [email protected]. Tel: 03-7721 8219 Fax: 03-7721 8038 LAUNCHES & EVENTS Events listed here will also appear on theedgeproperty.com. Email: [email protected]

Senior Managing Editor Azam Aris Contributing Editor Sharon Kam Venue: M Residence 2 @ Rawang, greenery with extensive landscape Editor Rosalynn Poh MRT SSP line public Jalan Tasik Puteri, Rawang complete with a RM10 million Deputy Editors E Jacqui Chan, inspection starts Contact: (03) 9221 8888/374 clubhouse and a 14-acre lush private Wong King Wai, Llew-Ann Phang Date: May 15 to Aug 17 Mah Sing Group Bhd launches forest with a sky bridge. The 1km Assistant Editor Lam Jian Wyn Writers Zatil Husna Wan Fauzi, Venue: 23 locations in its inaugural Rumah Selangorku jungle trail will take you around the Elena Tunku Sherie, the Klang Valley project at this groundbreaking verdant area and stop by the viewing Chai Yee Hoong, Lim Kian Wei, Contact: Visit www.mymrt. ceremony offi ciated by Selangor deck to enjoy the breathtaking view Rachel Chew, Hannah Rafee, com.my for more information Menteri Besar, Mohamed Azmin of the Kuala Lumpur skyline. Carmel Dominic and the locations Ali. The fi rst 100 eligible registrants Corporate Mass Rapid Transit Corp Sdn for Rumah Selangorku will have Showcase of the 3rd phase of Managing Director Au Foong Yee Bhd (MRT Corp) will conduct the legal fees of their sale and Tiara South’s Garden Homes Contact: (017) 964 0700 Deputy Managing Director its public inspection (PI) of the purchase agreement waived. Date: May 16 and 17, Join Sunway City Sdn Bhd for Lim Shiew Yuin Sungai Buloh-Serdang-Putrajaya Saturday and Sunday afternoon tea on weekends this Advertising & Marketing Line (SSP Line) from May 15 Time: 10am-7pm month and view its Sunway Velocity To advertise contact to Aug 17. This is part of the Venue: Tiara South show show unit. The freehold integrated GL: (03) 7721 8000 Land Public Transport Act 2010 gallery, Semenyih city is located near the Tun Razak Fax: (03) 7721 8288 Chief Marketing Offi cer requirement to provide a platform Contact: (012) 302 6808 Exhange, upcoming Ikea, and two Sharon Teh (012) 313 9056 for the public to give feedback (019) 211 2881 underground MRT stations. Senior Sales Managers on the proposed alignment. Kueen Lai Properties Sdn Geetha Perumal (016) 250 8640 There will be road shows at Bhd invites the public to its Property exhibition Fong Lai Kuan (012) 386 2831 Shereen Wong (016) 233 7388 23 locations at high traffi c showcase of 3-storey Tiara South and seminar Peter Hoe (019) 221 5351 areas, including local councils, Jungle trail at Sunway Garden Homes in Semenyih. Date: May 16 and 17, Gregory Thu (012) 376 0614 shopping malls, community Montana Only 50 units are available Saturday and Sunday Ad-Traffi c Manager halls and a hospital. The booths Date: May 16 and 17 in the freehold development. Time: 11am to 7pm Vigneswary Krishnan (03) 7721 8005 Ad Traffi c Asst Manager will feature satellite images of Time: 10am to 5pm Prices start at RM338 psf. Light Venue: Azalea Room, Roger Lee (03) 7721 8004 the planned 52.2km line and Venue: Sunway Montana, refreshments will be provided. Shangri-La Singapore Executive Ad-Traffi c locations of the 36 stations. Desa Melawati, KL Contact: (010) 540 8900 Norma Jasma (03) 7721 8006 Contact: (018) 293 2992 Afternoon tea with Sunway Savills Malaysia is hosting a talk Email: [email protected] Sunway Montana will be holding Velocity on premier lifestyle living in Ground breaking of Mah an exclusive two-day opening of its Date: All weekends in May Malaysia titled, “Savills View of The Edge Property is published and Sing’s Rumah Selangorku private jungle trail and sky bridge Time: 10am to 5pm Johor and Kuala Lumpur”. The distributed with The Edge Financial Date: May 15, Friday this weekend. This freehold gated Venue: Sunway Velocity Sales speaker is executive chairman of Daily every Friday. For more property data, listings and news, go Time: 10.30am development consists of 60% Gallery, Jalan Peel, KL Savills Malaysia Christopher Boyd. to theedgeproperty.com.

FRIDAY MAY 15, 2015 • THEEDGE FINANCIAL DAILY FRI EP4 PROPERTY | NEWS

PHOTOS BY ABDUL GHANI ISMAIL, SHAHRIN YAHYA & PATRICK GOH/THEEDGE PROPERTY

theedgeproperty.com 01 creates a buzz

Multi-pronged launch campaign for the free property portal

BY RACHEL CHEW AND HANNAH RAFEE For more stories and videos, go to he Edge Media Group’s recently www.theedgeproperty.com launched all-new theedgeprop- erty.com, a one-stop free prop- the ground activation campaign, 10,000 cop- erty portal with exclusive news, ies of the pullout were given out to a receptive listings, new launches, data and crowd. In total, 200,000 copies were distributed analytics, created a buzz in the in the Klang Valley, Penang and Johor Baru. TKlang Valley last weekend. “Th e objective of the campaign is mul- Over three days from May 8, cruisers — four ti-pronged. First, we wish to spread the word human billboards dressed in black skinsuits about the launch of theedgeproperty.com, 01. and six brand ambassadors donning cute 3D a free portal that is unique and certainly the model house headgears — swept through fi rst of its kind in Malaysia,” says Th e Edge 02. high-traffi c streets, busy food and beverage Communications Sdn Bhd managing director outlets and shopping malls to promote th- Au Foong Yee. “We seek to empower users 03. eedgeproperty.com. of the theedgeproperty.com to make better Besides making heads turn, the human bill- decisions by providing them with breaking 04. boards and brand ambassadors handed out news, property-related information such as 05. balloons and booklets outlining the website’s new launches, transaction data and analyses. 02 unique features — Th e Edge Fair Value, an “By so doing, we are levelling the playing algorithm-generated indicative value based fi eld for investors and democratising prop- analyses,” says 32-year-old IT consultant Friday edition of Th e Edge Financial Daily. fre on the most recent real transacted prices; ad- erty investment.” Edison Liong Chan Yong. theedgeproperty.com was officially Ma vance analytics by area and property type on Th e campaign also serves to introduce Th e Another reader, Chandler Kwek, 30, says it launched on May 7 at a hotel in Kuala Lumpur. ter price per square foot, absolute price, historical Edge Property, Au says. “Readers will fi nd in it is good that Th e Edge Media Group is expand- About 250 people attended the event, in- price and transaction volume; advance ana- comprehensive news and researched reports ing its coverage across diff erent platforms. cluding theedgeproperty.com’s launch part- and lytics based on projects (transactions, asking and data that complement what is available “Th e good thing about theedgeproperty. ners and Malaysia’s top property developers info rents, surrounding amenities and compari- on theedgeproperty.com.” com is that it enlightens users about the latest — Gamuda Land Sdn Bhd, IJM Land Bhd, It is sons with nearby projects); hot-spot tracker Th e immediate feedback on theedgeprop- rental rates, average transacted prices and so IOI Properties Group Bhd, Mah Sing Group is o that tell you what is trending; proprietary erty.com was positive, with users affi rming on for free. As an investor, this kind of data is Bhd, MKH Bhd, Sime Darby Property Bhd, tat news, research and feng shui consultation; that before making decisions on investments, most valuable,” says Kwek, who is project di- S P Setia Bhd, Sunway Bhd, Tropicana Corp inc and free property listings. they often go online for more information. rector of web company Sweetmag Solutions. Bhd and UEM Sunrise Bhd. in Also distributed were copies of the inaugu- “I believe the new portal and pullout Ho Kay Tat, publisher and group CEO of Th e Edge Media Group executive chair- bu ral issue of Th e Edge Property — a property will create more transparency in the local Th e Edge Media Group, says an additional man Datuk Tong Kooi Ong said during his ind pullout published together with Th e Edge Fi- property market, especially with the help 40,000 copies of Th e Edge Property will be presentation at the launch that the portal nancial Daily every Friday. In the three days of of accurate transacted data and research printed on top of those distributed with the is a comprehensive, agnostic and inclusive hel FRIDAY MAY 15, 2015 • THEEDGE FINANCIAL DAILY NEWS | PROPERTY EP5

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01. The human billboards surprise the crowd at KL the launch partners after theedgeproperty.com’s Sentral activation ceremony 02. Passers-by eagerly receiving complimentary 06. Shopkeepers are pleasantly surprised by the copies of the inaugural issue of The Edge Property cruisers’ visit 03. The Edge’s property editorial team at KL Sentral, 07. The messages say it all about theedgeproperty.com one of the campaign stops 08. Cruisers at a restaurant in TTDI 04. An Italian tourist posed with the human billboards 09. Cruisers distributing The Edge Property and 05. Ho (left) and Tong (right) with representatives of balloons at 02

y. free platform that aims to help investors in same time, lower their cost by giving listings lly Malaysia, Singapore and the region to be bet- for free and provide the most information pur. ter informed and to make better decisions. possible so they can spend less time per in- “You will fi nd the portal comprehensive potential client. We will also build a back- art- and free to use anywhere. It includes listing end system for agents to track and manage ers information, tools, news and research reports. listings, clients and transactions. For devel- hd, It is agnostic as it is a channel platform that opers, we believe the platform will be able up is open to all in the industry, such as real es- to target your customers a lot better and be hd, tate agents, developers and banks. We are able to drive sales. For banks, mortgages and orp inclusive because we serve all stakeholders other fi nancial products can be targeted by in the industry without replacing anyone, location, product type and value.” air- but instead, we aim to add value to all the Th ree major roadshows and carnivals to his industry players. promote theedgeproperty.com will be held rtal “With theedgeproperty.com, we want to in the second half of the year in Petaling Jaya, ive help agents secure more deals and at the Penang and Johor. 09 FRIDAY MAY 15, 2015 • THEEDGE FINANCIAL DAILY EP6 PROPERTY | NEWS

Trinity Group banks on location

BY ELENA TUNKU SHERIE

KUALA LUMPUR: Trinity Group Sdn Bhd recently launched its latest pro- ject, the water-themed Trinity Aquata @ KL South. It is banking on the project’s stra- tegic location in Sungei Besi as a key selling point. “The area is poised to become the next golden triangle, being located ad- jacent to the city centre,” says founder and managing director of Trinity Group Sdn Bhd Datuk Neoh Soo Keat. “This offers our buyers the oppor- tunity to own a freehold property with Artist illustration of a prestigious Kuala Lumpur address, 9 Seputeh. Photo by MRCB without the burden of KL property prices.” The RM300 million project was un- veiled on Tuesday at its show gallery in Zest Point, BK9, Bandar Kinrara, Puchong. Trinity Aquata comprises two MRCB’s 9 Seputeh achieves 26-storey condominium blocks of 492 units with built-ups of between 1,100 sq ft and 1,400 sq ft. The 3-bedroom and 2-bathroom units have fully cus- tomisable interiors. 70% sales for fi rst phase Facilities include a gymnasium, jogging path, a landscaped sky bridge that links two sky gardens, a sky terrace and a multi-purpose hall. BY CHAI YEE HOONG tractive as we are close to , Mid a hypermarket and food court. Th e devel- Other amenities include a raised Valley and KL city centre.” opment is connected to retail, commercial infinity pool, water lounge, hammock KUALA LUMPUR: Malaysian Resources Corp 9 Seputeh Phase 1, with a gross develop- and transportation hubs of KL Sentral CBD, lounge, pool deck, and 24-hour secu- Bhd’s (MRCB) fi rst phase of its on-going ment value (GDV) of about RM860 million, and Bangsar with its dedi- rity and CCTV surveillance at the car mixed-used development 9 Seputeh is 70% off ers two 44-storey towers called B and C cated link to the NPE, including a planned park and common areas. sold to date. Th is fi rst phase was launched (190 units each) and two 42-storey towers covered link bridge connecting the proposed in two sub-phases, with phase 1A done in called A and D (222 units each). Addition- monorail station. April 2014, and phase 1B in September 2014. ally, there will be a 15-storey SoHo block Meanwhile, the corporation has lined up “We are positive on 9 Seputeh’s sales with 287 units. three launches for the third quarter of this take-up and confident the sales will do Th e entire development will be construct- year, namely City (GDV: RM400 well due to competitive pricing and ac- ed in four phases and is expected to be com- million), Th e Grid at Jalan Kia Peng (GDV: cessibility,” said chief financial officer Ann pleted in 10 years. Th e 9 Seputeh project RM400 million), and 3 Residences in Kajang Wan Tee in an email interview. “Both Old stretches 17.3 acres along Old Klang Road (GDV: RM300 million). Klang Road and the New Pantai Express- and has a total GDV of RM2.5 billion. With its upcoming launches this year way (NPE) provide different connectivity Th e commercial component of 9 Seputeh amounting to RM1.3 billion in GDV, the to other major roads. The location is at- consists of two- and three-storey retail lots, company aims to secure RM910 million in sales in the year. London’s Garden House launches in KL

BY ELENA TUNKU SHERIE KUALA LUMPUR: Knight Frank, togeth- er with Jones Lang LaSalle (JLL), will be launching London’s latest property devel- Trinity Aquata will feature two 26-storey opment, Garden House W2, this weekend condominium blocks of 492 units . at the Mandarin Oriental Kuala Lumpur. Photo by Trinity Group Sdn Bhd “Garden House is a beautiful Grade II listed building, rich in character, off ering “We are building products to en- residents a rare opportunity to have direct rich lives and build communities,” private access onto one of London’s few re- says Neoh. maining traditional Garden Squares,” says He says he is confident the project Knight Frank Malaysia senior manager of will see good price appreciation be- international project marketing Dominic fore its completion in 2018 “due to Heaton-Watson. its location and the surrounding in- He adds that the development is set to frastructure”. benefit from the regeneration of nearby The project is accessible via the Bes- Queensway and the Crossrail project when raya Highway, KL-Seremban Highway it becomes operational in 2018. and the Middle Ring Road 2. Garden House is scheduled for comple- It is also close to the proposed MRT tion this autumn. It offers five storeys of The development is located Line 2 that will pass through Chan 58 one, two and 3-bedroom apartments. in Kensington Garden Sow Lin to , and the Built-ups range from 324 sq ft to 545 sq ft Square in Westminster city. much-anticipated high-speed rail ex- for the 1-bedroom unit, 537 sq ft to 783 sq Photo by Knight Frank/ pected to commence construction in ft for the 2-bedroom unit and 928 sq ft for Residential Land Ltd 3Q2016 and connect Kuala Lumpur the 3-bedroom unit. and Singapore. All apartments come fully furnished by the Prices for the units start from RM580 developer’s specialist interior design team. Th e development is located in Kensing- It directly overlooks Kensington Gardens psf. Each unit is designed with tradition- ton Garden Square in Westminster city, a Square and off ers residents direct access to Trinity Aquata will also be launched al architraves, American walnut timber short distance from shopping and leisure it via the private reception in Garden House. in a few other states this week. fl ooring and polished quartz worktops in districts of Notting Hill, Westbourne Grove Th e launch at the Mandarin Oriental Kua- The project sits on 3.58 acres of the kitchen. and Portobello Market. la Lumpur takes place from 11am to 7pm. land.

FRIDAY MAY 15, 2015 • THEEDGE FINANCIAL DAILY FRI EP8 PROPERTY | COVER STORY

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An aerial view of Brickfi elds. Photos by Sam Fong/The Edge Property

HARIS HASSAN/ THE EDGE PROPERTY Buoyant THE EDGE FILE PHOTO Brickfi elds

Prices and rents of condos and serviced

residences continue to rise in Kuala Lumpur’s Nabeel: The residential market in Previndran: Brickfi elds will continue to Chandra: Many expatriates in the area are Brickfi elds will continue to be mostly perform well due to its proximity to the professionals from India. Little India and in KL Sentral investment-driven. city centre.

BY CHAI YEE HOONG with the easy connectivity of its light ed residential property in Brick- tively which translates to a growth ment vendor companies, according to The rail and monorail lines. According to fi elds (including KL Sentral), it was of 88% and 102% respectively over Brickfi elds property investor Chandra he landscape of Kua- a report in Th e Edge Malaysia busi- found that average values rose by a period of fi ve years. L Ramprakash. la Lumpur’s Brick- ness weekly, among the upcoming 25% in the third quarter of last year For newer condominiums such Also, with the noise and traffi c RM fields neighbourhood projects here is a RM2 billion com- (3Q2014) from a year ago to RM762 as 633 Residency, the average trans- congestion in the area, the residen- dom has evolved dramati- mercial development on the parcel psf. Th is could be due to the lack of acted price rose 23% from RM570 tial market here tends to be rather Th e cally since Malaysian of land where the former district po- transactions of older apartments in psf in 2010 to RM700 psf last year. investment-driven, says Nabeel. ren Resources Corp Bhd lice headquarters and barracks were the area during that period. How- Meanwhile, newer high-end While the average monthly rental RM T(MRCB) first planned to build the located. Meanwhile, the century-old ever, these older apartments, some condominiums in KL Sentral such for non-landed residences in Kua- 72-acre transit-oriented and inte- 100 Quarters along Jalan Chan Ah more than 30 years old, are also re- as Suasana Sentral Loft and Suasana la Lumpur is around RM3,492 or Sd grated development KL Sentral in Tong, Lorong Chan Ah Tong and cording strong price growth. Sentral, which recorded an average RM2.50 psf, that of the Brickfi elds he, the area in 1996. The completion Jalan Rozario may be redeveloped While the highest average price transacted value of RM680 psf and and KL Sentral area is RM4,699 or Bri of its initial first few phases in ear- into a three-tower 40-storey condo- growth during that period was set by RM520 psf respectively in 2010, were RM3.52 psf, according to research an ly 2000 spurred property values in minium development if the project Suasana Sentral at 37.2% or RM989 sold at RM1,000 psf and RM870 psf by theedgeproperty.com. we the area where previously, time had is approved. psf, across the road, one of the old- respectively last year, according to Average monthly rents for con- ma stood still. Today, on one side of its er apartment blocks Palm Court, Savills Malaysia data. dominiums in KL Sentral are be- sim arterial road Jalan Tun Sambanthan, Prices on the rise came in second with an average price tween RM5,000 and RM5,500, as lies Little India with its charming old Brickfi elds has the benefi t of being growth of 19.7% to RM486 psf. (See Rental boost observed by theedgeproperty.com Ou shops, medium-cost apartments just a hop, skip, and jump away from Chart 2, next page.) Th e booming residential values in in February this year. For instance, As and old government housing quar- but the According to Savills Malaysia Brickfi elds could be due to the strong Suasana Sentral and Suasana Sen- and ters, while on the other side is KL jewel in its crown is KL Sentral, the associate director Nabeel Hussain, rental market. Demand in the resi- tral Loft offer average monthly cen Sentral with its gleaming high-rise main transportation hub of the Klang residential units in Palm Court and dential rental market has led to rents rents of RM5,581 (RM3.10 psf) and ide offices, hotels, residences and even Valley. With such great connectivi- Th e Pines (another old condomin- rising. Th e number of expatriates in RM5,106 (RM3.74 psf). con a mall. Certainly, Brickfields today ty, it is no wonder property values ium project) were sold at an aver- Brickfi elds’ Little India, is also grow- Current rents for the rest of Brick- is a study in contrasts. in this part of Brickfi elds are hitting age RM266 psf and RM295 psf re- ing. Many are professionals from In- fi elds average between RM1,500 to den Rapid development over the years record prices. spectively in 2010. Last year, their dia who are software engineers work- RM3,800. A newer condominium wil has seen it become an extension of In an analysis by theedgeproper- average transacted value was close ing in sectors such as fi nance, oil and such as 633 Residency commands an me Kuala Lumpur city centre, especially ty.com of transactions of non-land- to RM500 psf and RM597 psf respec- gas, and IT as well as in local govern- average monthly rental of RM3,668 or dem FRIDAY MAY 15, 2015 • THEEDGE FINANCIAL DAILY COVER STORY | PROPERTY EP 9

Source: theedgeproperty.com Chart 1: Brickfields non-landed residential average price Growth in commercial and retail spaces

Source: theedgeproperty.com

Chart 2: Brickfields Top 5 condominiums/apartments by average price annual growth

The 4 1/2-storey shops along Jalan Tun Sambanthan.

he Brickfields/KL Sentral area saw an increase in office and retail space after the recent completions of Menara CIMB, Me- Tnara Shell, Nu Towers (by MRCB and ASEANA Properties Ltd (UK)), Nu Sentral Mall and 1Sentrum (both by Pelaburan Hartanah Bhd and MRCB), Sentral Vista (by Masteron Group of Companies) and Menara Bank Rakyat. All are located at KL Sentral except for Sentral Vista and Menara Bank Rakyat, which are located on Jalan Sultan Abdul Samad and Jalan Rakyat (previously known as Jalan Travers), respectively. Savills Malaysia associate director Nabeel Hussain says the new commercial developments in KL Sentral have driven up the value of commercial properties in the rest of Brickfi elds, and that commer- cial property values and rents have been increasing as investors see the area’s potential. Th e new offi ce buildings within KL Sentral are high-rise Grade A, MSC-status buildings that come with modern architecture, facilities and security features. Th ese offi ces cater for both local companies and multinational corporations. In contrast, the old two-storey and 4½-storey shops in Brickfi elds are mainly operated by local businesses that cater for the Indian From bricks to community such as budget hotels, restaurants, banks, boutiques, hair salons, clinics, jewellery shops and convenience shops. Th ese Brickfi elds shops, mostly built between the 1920s and 1980s, have typical built- ups of about 2,100 to 4,000 sq ft for the 2-storey ones, while the 4 ½ IN its early days, Brickfi elds was -storey shops are between 7,460 sq ft to 9,000 sq ft. known as the 15th mile as it was Nabeel says monthly rents for the 2-storey shops increased from 15 miles from the Klang River RM11,500 per month in 2010 to RM25,000 last year, while rents for and the marker, located near the 4-storey shops rose from RM15,000 to RM35,000. the now defunct Lido Cinema As for the in-demand ground fl oor shops, Zerin Properties Sdn near YMCA, helped travellers Bhd CEO Previndran Singhe notes that the current rent is RM15,000, track their journeys. an increase from RM10,000 in 2010. When fi re and fl oods swept Selling prices of the older shophouses and shop offi ces are de- re through Kuala Lumpur in 1881, pendent on their street location. Th e 4 1/2-storey shopoffi ces on destroying the wood and at- Jalan Tun Sambanthan 3 and Jalan Scott were sold for RM2.3 million tap structures in the district, and RM2.5 million in 2010 respectively, according to Nabeel. Last British Resident of Selangor year, these shop offi ces were transacted at RM4.6 million and RM3.7 g to The century-old 100 Quarters, once home to Malayan Railway employees. Frank Swettenham required million respectively, recording 100% and 48% growth respectively. dra that bricks be used for build- Meanwhile, 4 1/2-storey shop offi ces along Jalan Tun Sambanthan ings instead. were sold for RM3.6 million in 2010, and at RM6.6 million last year, ffi c RM2.85 psf, while much older con- Some upcoming residential de- This prompted the third recording an 83% increase, he notes. As for the 2-storey shophouse en- dominiums such as Palm Court and velopments to watch out for in the and longest-serving Chinese along Jalan Sultan Abdul Samad, their 2010 transacted value of RM1 her Th e Pines record an average monthly area include the St Regis Hotel and Kapitan Yap Ah Loy, one of million rose to RM1.3 million last year, an increase of 30%. l. rental of RM2,500 (RM2.44 psf) and Residences (by MRCB and CMY the founding fathers of Kuala As rents are strong for these shops, owners are holding on to them ntal RM2,800 (RM2.15 psf) respectively. Capital), the Sentral Residences (by Lumpur, to buy a piece of land and off ering one-year leases, according to property investor Chan- ua- According to Zerin Properties MRCB and Quill Group) and Th e Es- to set up a brick-making in- dra L Ramprakash. or Sdn Bhd CEO Previndran Sing- tablishment (by Keystone Land De- dustry for the rebuilding of the As for offi ces in KL Sentral, Nabeel notes that rents have not changed lds he, fi ve years ago, average rents in velopments Sdn Bhd). Th e Sentral city. Th at site was later named much over the past fi ve years, and average between RM6 and RM8.50 or Brickfi elds were between RM1,300 Residences and the St Regis Hotel Brickfi elds. psf. Meanwhile, Previndran says retail space in offi ce buildings is rch and RM1,800, while rental yields and Residences are located on the Brickfi elds was later devel- currently between RM8 to RM10 psf while retail space in the recent- were between 5% to 6%. He esti- northern side of KL Sentral, while oped by the fi fth and last Chi- ly completed Nu Sentral Mall range between RM15 and RM25 psf. on- mates the current market still gives The Establishment is located on nese Kapitan Yap Kwan Seng, Previndran says current prices of KL Sentral offi ces range between be- similar rental yields. Jalan Ang Seng and Jalan Ang Seng who foresaw an increased RM1,000 and RM1,600 psf compared with RM950 psf in 2010. He as 3 in Brickfi elds. Th e St Regis Hotel demand for bricks in the notes that offi ces in Plaza Sentral are currently priced at RM1,000 psf om Outlook and Residences is scheduled for fast-growing Kuala Lumpur, and whereas for Q Sentral (by MRCB and Quill Group), which is nearing ce, As Brickfi elds has a transport hub completion at the end of this year, established a kiln in the area. completion, the asking price is between RM1,500 and RM1,600 psf. en- and is in close proximity to the city the Sentral Residences by mid-2016 Brickfi elds became the centre Q Sentral is estimated to be completed by 2Q2015. hly centre, Previndran believes the res- and Th e Establishment by 2017. for brick-making and synony- With all that is taking place in this area, only time will tell how nd idential market in Brickfi elds will Previndran notes that what mous with good quality bricks. much the Little India of KL will transform further in years to come. continue to perform well. land remains for development are As one of the pioneer set- ck- Nabeel stresses that the resi- pocket-sized freehold plots of about tlements in KL, Brickfields 0 to dential market in Brickfi elds is and 5,000 to 10,000 sq ft and mostly was also the main depot for Check out a video of this hotspot at theedgeproperty.com and see um will continue to be mostly invest- owner-occupied with residential the Keretapi Tanah Melayu an ment-driven as it enjoys a stable and commercial use status. Th ey (Malayan Railway). property listings for this area on Market Watch EP10 8 or demand from the rental market. go for RM800 psf to RM1,200 psf. FRIDAY MAY 15, 2015 • THEEDGE FINANCIAL DAILY EP10 PROPERTY | MARKET WATCH Go to theedgeproperty.com for more listings

FOR SALE [in Brickfi elds/KL Sentral] FOR RENT [in Brickfi elds/KL Sentral]

Built-up: 1,585 sq ft Suasana Sentral Condominiums Bedrooms: 3 Bedroom: 3 Type: Condominium/ Bathrooms: 2 Bathrooms: 3 serviced residence Description: This very well- Description: This unit is located Tenure: Freehold renovated and well-maintained in Block B on a high fl oor. It is Asking rent: RM4,000 unit comes with two parking spaces fully furnished and in move- Built-up: 1,436 sq ft and a fully equipped kitchen. It in condition. Buy with tenancy. Bedrooms: 2 +1 is tastefully furnished. This is a Suasana Sentral Loft is located at Bathrooms: 3 high fl oor unit with a good view Suasana Sentral Loft the centre of KL Sentral, the city’s Description: Fully of Brickfi elds and KL city. Type: Condominium/ main transportation hub. It is ideal Mutiara Residency furnished, choice unit Agent/negotiator: Debbie Lam of serviced residence for working professionals on the Type: Condominium/ Agent/negotiator: Lisa Low Reapfi eld Properties (Taman Sea) Tenure: Freehold go who enjoy super-convenient serviced residence of Hartamas Real Estate Tel: (012) 331 7178 Asking price: RM1,460,000 modern city living. Facilities Tenure: Freehold Tel: (012) 322 0528 Email: debbielam@reapfi eld.com Built-up: 1,459 sq ft include a 50m infi nity pool with Asking price: RM1,142,400 Email: [email protected] Bedrooms: 2 piped-in music, indoor and outdoor Built-up: 1,428 sq ft Dua Sentral Bathrooms: 3 playgrounds, barbecue pits and a Bedrooms: 3 Suasana Sentral Condominiums Type: Condominium/ Description: The mid-fl oor refl ective pool. There is also the Sky Bathrooms: 4 Type: Condominium/ serviced residence units with 2 + 1 rooms have an Club located on level 38 of Tower A. Description: Many units located serviced residence Tenure: Freehold open-plan living and dining Agent/negotiator: Janet Chong on high fl oors available for sale Tenure: Freehold Asking rent: RM3,600 area and a modern kitchen fi tted of Hartamas Real Etsate at RM800 psf, excluding car Asking rent: RM4,800 Built-up: 872 sq ft with stainless steel appliances. Tel: (012) 318 8099 parks at RM30,000 per lot. Built-up: 1,435 sq ft Bedrooms: 2 There is also a utility yard with Email: [email protected] Agent/negotiator: Wesley Wong Bedrooms: 3 Bathrooms: 2 a washer and dryer. The master of Reapfi eld Properties (KL) Bathrooms: 3 Description: H4, high-fl oor unit bedroom comes with a bed, Tel: (012) 391 1269 Description: Located in KL Sentral, with a view of the city and swimming built-in wardrobe and ensuite Email: wesleywong@ the city’s most convenient transport pool. It comes with one reserved bathroom. The second bedroom reapfi eld.com hub. This newly refurbished covered car park bay. It also has is generous in size and has a and fully-furnished unit comes 24-hour security with access card, bed and built-in wardrobe. The with a new 43” TV and new and comes fully furnished with unit is fully air-conditioned. Electrolux washing machine. air-con, fan, lighting, water heater, Suasana Sentral Loft is located Agent/negotiator: Shirley Ng washing machine fridge, built-in in KL Sentral and has inter- of Metro Homes Sdn Bhd kitchen cabinets and wardrobe. connectivity within KL and to Tel: (012) 229 1688 Facilities include gym, swimming Kuala Lumpur International Best Western Premier Dua Email: [email protected] pool, six lifts per fl oor, laundry, hotel Airport. Facilities include Sentral lobby, business centre, seminar the 38th fl oor Sky Terrace Type: Condominium/ Suasana Sentral Loft rooms and shuttle service. The Best with barbecue pits, pavilions, serviced residence Type: Condominium/ Western Hotel is located below. refl ection pools, function rooms, Tenure: Freehold serviced residence Agent/negotiator: Patrric gym, lounge and recreational Asking price: RM910,000 Suasana Sentral Loft Tenure: Freehold Kor of CBD Properties deck with 50m infi nity pool. Built-up: 912 sq ft Type: Condominium/ Asking rent: RM6,800 Tel: (017) 583 4278 Agent/negotiator: KN Bedrooms: 2 serviced residence Built-up: 1,550 sq ft Email: [email protected] Wong of RVT Realty Bathrooms: 2 Tenure: Freehold Tel: (017) 888 2063 Description: Dua Sentral (also Asking price: RM1,100,000 Email: [email protected] known as D Tiara Offi ce and Hotel Built-up: 811 sq ft Suites) is about a 10-minute walk Bedroom: 1 SOLD [in Brickfi elds/KL Sentral] from KL Sentral and off ers good Bathroom: 1 connectivity to the rest of the city Description: The 1+1 room unit and the KL International Airport is being sold lock, stock and Contract date: 24 Oct 14 Contract date: 26 May 14 via the KLIA , LRT, barrel, with tenancy. It has been Project name: Suasana Sentral Loft Project name: The Pines monorail and KTM Komuter. It also renovated and fully furnished. Address: Jalan Stesen Sentral 5 Address: Jalan Sultan Abd Samad off ers concierge services, a business It has a fully fi tted kitchenette Area (sq ft): 1,528 Area (sq ft): 1,055 centre, seminar rooms, safe deposit with a refrigerator and washing Price (RM): 1,300,000 Price (RM): 630,000 boxes, shuttle service, boutique machine, and air-conditioning in Price (RM psf): 851 Price (RM psf): 597 restaurants and eateries, a spa and all rooms. There are limited units The Sentral Residences wellness centre, infi nity pool, water of similar layout available in the Contract date: 2 Oct 14 Contract date: 9 May 14 Type: Condominium/ activity pool and a gymnasium. market. It is a fi ve-minute walk Project name: Suasana Sentral Loft Project name: The Pines serviced residence Dua Sentral is connected by the to the KL Sentral transport hub Address: Jalan Stesen Sentral 5 Address: Jalan Sultan Abd Samad Tenure: Freehold New Pantai Expressway, Kerinchi that houses a Putra LRT station, Area (sq ft): 1,625 Area (sq ft): 1,023 Asking price: RM1,450,000 Link SMART expressway, Lebuhraya Express Rail Link, KTM Komuter Price (RM): 1,650,000 Price (RM): 420,000 Built-up: 1,119 sq ft Mahameru and the Sprint Highway station, KL Sentral Monorail Price (RM psf): 1,015 Price (RM psf): 411 Bedroom: 1 for fast connection to Petaling Jaya, station and City Air Terminal. Bathrooms: 2 and Bangsar. Agent/negotiator: Kit Leong Contract date: 23 Sept 14 Contract date: 27 June 14 Description: The Sentral Agent/negotiator: Nadia Rohim of Reapfi eld Properties (SJ) Project name: Suasana Project name: Palm Court Residences is located in the of Reapfi eld Properties (Sunway) Tel: (016) 371 7898 Sentral Condominium Address: Jalan Sultan Abd Samad transportation hub of KL Sentral Tel: (012) 358 2950 Email: kitleong@reapfi eld.com Address: Jalan Stesen Sentral 5 Area (sq ft): 1,109 and next to the six-star St Regis Email: [email protected] Area (sq ft): 893 Price (RM): 555,000 Hotel. It off ers easy access Price (RM): 1,150,000 Price (RM psf): 501 to the city and the rest of the Price (RM psf): 1,287 Klang Valley via the LRT and Contract date: 10 June 14 the Express Rail Link to Kuala Contract date: 2 Sept 14 Project name: Palm Court Lumpur International Airport Project name: Suasana Address: Jalan Sultan Abd Samad Agent/negotiator: May Lim Sentral Condominium Area (sq ft): 947 of Hartamas Real Estate Address: Jalan Stesen Sentral 5 Price (RM): 630,000 Tel: (016) 220 1233 Area (sq ft): 1,410 Price (RM psf): 665 Email: [email protected] Price (RM): 1,250,000 Price (RM psf): 886 Contract date: 18 July 14 Villa Scott Villa Scott Project name: Scott Sentral Type: Condominium/ Type: Condominium/ Contract date: 22 July 14 Address: Jalan Scott serviced residence Serviced residence Project name: Menara Pelangi Area (sq ft): 786 Tenure: Freehold Tenure:Freehold Address: Lorong Ang Seng 2 Price (RM): 585,000 Asking price: RM790,000 Asking price: RM880,000 Area (sq ft): 893 Price (RM psf): 745 Built-up: 1,140.00 sq ft Built-up: 1,400 sq ft Price (RM): 440,000 Bedrooms: 2 Bedrooms: 3 Price (RM psf): 492 Contract date: 21 Oct 14 Bathrooms: 2 Bathrooms: 3 Project name: Villa Scott Description: None Description: None Contract date: 16 May 14 Address: Jalan Scott 1 Suasana Sentral Loft Agent/negotiator: Carmen Chong Agent/negotiator: Carmen Chong Project name: Menara Pelangi Area (sq ft): 1,399 Type: Condominium/ of Reapfi eld Properties (Puchong) of Reapfi eld Properties (Puchong) Address: Lorong Ang Seng 2 Price (RM): 900,000 serviced residence Tel: (012) 232 6048 Tel: (012) 232 6048 Area (sq ft): 926 Price (RM psf): 643 Tenure: Freehold Email: carmencheong@ Email: carmencheong@ Price (RM): 480,000 Asking price: RM1,600,000 reapfi eld.com reapfi eld.com Price (RM psf): 518 FRIDAY MAY 15, 2015 • THEEDGE FINANCIAL DAILY DEALMAKERS | PROPERTY EP11

ECO WORLD DEVELOPMENT GROUP Show and sell

Show galleries and why they matter

BY ELENA TUNKU SHERIE of the units in the project. “Th ey certainly can contribute to f someone says to you, “Let’s sales by giving the potential buyer a go play football at the show good understanding of the proper- gallery,” you’d probably won- ty. I feel they are necessary provid- der, “What the heck is he ed the cost is within the marketing smoking?” budget of the developer. Th ey give Th ey’re talking about prop- an impression of the developer and Ierty show galleries, that’s what. the kind of fi nal product it can af- Show galleries are becoming an ford to deliver,” says Lee. integral part of marketing for prop- Team manager of Real Estate erty developers. Many go to great Finders (MY) Sdn Bhd and head lengths to ensure their target mar- councillor of Malaysian Institute kets know who they are and the kind of Estate Agents Youth, Raphael of products they off er. Wong says show galleries and show Eco World Sky’s show gallery is made out of 27 containers. Some are decked out to the units do contribute to sales. Th e PHOTOS BY UMLAND nines with luxury fi ttings and fur- main reason? Th ey can stimulate nishings while others boast de- the emotions of the buyer. signer interior designs. However, “Th e prospective buyer can see, some prominent developers have feel ,even smell their future home. taken it a bit further by turning “Th ere is a saying: Nice to see, their show galleries into points of nice to touch. Once excited, con- attraction in themselves. sider sold,” he quips. He adds that The show gallery of IJM Land people’s demands are changing, Bhd’s township development Ban- and creative show galleries meet dar Rimbayu known as Th e Arc is their expectations of being sold to. one such example that doubles up For example, the show gallery as a place for residents and guests of Country Garden@Danga Bay by to get together to socialise. Country Garden Properties in Jo- The gallery even features a hor’s Iskandar region even off ers league-size football fi eld that can visitors a “beach”, including some also be used as a concert venue. water sports, a swimming pool and United Malayan Land Bhd (UM- a café. It even has activities for the UMCity Medini Lakeside’s show gallery. Land)’s UMCity Lakeside Medini’s public during festive seasons. show gallery in Johor uses a café Wong thinks more develop- concept to attract customers. Th e ers will be making the most of gallery is decked out like a café, this “show and sell” at least until complete with food, a “barista” and the next decade. However, with a “menu” placed at the entrance fast-moving technology, he doesn’t that lists down the latest property doubt that show galleries might products and launches. evolve into virtual galleries aug- Some developers have employed mented with virtual reality. attention-grabbing designs to attract However, galleries still need prospects. Eco World Development a good, actual product they can Group Bhd, for example, has used showcase. Chief executive offi cer of containers to build its Eco Sky show Zerin Properties Sdn Bhd Previn- gallery off Jalan Ipoh, Kuala Lum- dran Singhe says buyers are spoilt pur. Th e gallery is made out of 27 for choice but need to be wary and containers. ask the right questions. According to the principal of “Th is is a trend that is going to Th ree Acres Real Estate Sdn Bhd be even more signifi cant because Ben Lee, the show gallery is an buyers want to know what they are essential part of the sales pitch. purchasing. However, I also believe He foresees the tricked-out show that at the end of the day, a good gallery being a rising trend as the product will sell itself.” primary property market becomes Have a cuppa while you browse for your future home. Designed for comfort. more competitive. He adds that they are in- IJM LAND creasingly designed to entice the buyer by showing off the lifestyle the development claims to off er. The show gallery has traditionally been used to give the potential buyer a feel of the actual layouts of a unit; a sense of the sizes, and the coordination

From left: Wong and Lee. Photos by Sam Fong/ The Edge Property IJM Land’s Bandar Rimbayu show gallery. FRIDAY MAY 15, 2015 • THEEDGE FINANCIAL DAILY EP12 PROPERTY | FEATURE

Downtown San Francisco, May 7, 2015. Photo by Bloomberg

Prices of luxury residences increase 3.9% worldwide

Australia and North America best performers Knight Frank Prime Global Cities Index, Q1 2015

BY WONG KING WAI UHNWIs: What percentage are planning to he latest Knight Frank Prime purchase another home in the next 12 months? Global Cities Index recorded an (%) increase of 3.9% in the year to March, 2015, due to the strong performance of the North Amer- ica and Australian markets. TTh e Index tracks the performance of lux- ury residential prices across selected cities. “On average, prime prices in North Amer- ica and Australia increased by 8.4% and 7.3% respectively in the year to March, while Europe’s cities saw prices slip by 0.2% on average,” says Knight Frank partner Kate Everett-Allan. “If we were to omit cities in North Amer- ica and Australia, the index would have re- corded growth of 2.3% instead of 3.9% in the year to March 2015.” North American cities occupy three of the top four rankings for annual price growth. San Francisco, Miami and Vancouver re- corded annual growth of 14.3%, 12.2% and 11.8% respectively. focus of some investors from mainstream to Th e index (Q1 Index) for this year’s fi rst luxury residential properties.” quarter includes new data for Melbourne, In Moscow, luxury prices are up 0.6% in Taipei and Guangzhou and covers 35 cities. local currency terms but “it is worth high- Th e Q1 Index shows global luxury prop- lighting that a large proportion of Russian erties are on average 45% more expensive wealth is held in US dollars and, due to the since their fi nancial crisis low in the second weak Rouble, luxury prices have plummeted quarter of 2009. 38% year-on-year. “Eight cities, including London, Dubai Asian cities that showed growth over the and Hong Kong outperformed the index year were Bengaluru (formerly Bangalore) over the same period,” Everett-Allen says. (13.6%), Jakarta (11.2%), Tokyo (8.1%), Seoul London’s slow price growth was attrib- (6.3%), Hong Kong (5.5%), Bangkok (3.7%), uted to a “wait-and-see” attitude of vendors Mumbai (3.2%), Shanghai (2.9%) and Tai- and buyers due to the recently concluded pei (0.6%). UK general election. Bengaluru was second behind top per- Everett-Allen notes that despite mar- former San Francisco in the index. ket-cooling measures in Hong Kong, the Kuala Lumpur showed no growth from city saw “an upturn in annual price growth a year ago, while those that had negative as tighter mortgage restrictions targeted growth include Beijing (-0.5%), Guangzhou properties below HK$7 million, shifting the (-2.9%) and Singapore (-12.6%). FRIDAY MAY 15, 2015 • THEEDGE FINANCIAL DAILY FEATURE | PROPERTY EP13

PHOTOS BY BIG

Clockwise from top left: Ample space for student activities; students get to enjoy a more harmonious school layout; the education building; the interior of the multipurpose hall; the roof of the multipurpose hall.

Cool school

New arts building for Gammel Hellerup High School

BY ZATIL HUSNA WAN FAUZI into the mix has completely reconfigured Hellerup High School,” says its principal the sum of the parts. Like a catalyst or an Jorgen Rasmussen. COPENHAGEN: The newly completed enzyme, once inserted, all the surround- The new arts building is located be- multi-purpose hall, gymnasium and ed- ing substance transforms into something tween the school’s multi-purpose hall ucation building in Gammel Hellerup completely new,” says BIG founding part- and adjacent to the football fields, where High School, designed by Internation- ner, Bjarke Ingels in a recent statement. it connects the sports areas with the gym- al architecture and design group Bjarke Located in Copenhagen, Gammel Hel- nasium’s existing educational facilities in Ingels Group (BIG), has given the school lerup High School’s new two-storey arts a continuous flow. a new lease of life. But that was only the building will provide generous spaces for Th e construction of the cultural activities first part of the rejuvenation project. Af- social and creative learning while increas- building started as soon as the multi-pur- ter completing the first few phases in ing the school’s capacity to meet its growing pose hall was completed in 2014. 2014, BIG is now working on a 1,400 sq popularity. Th e roof of the new arts building extends m building to be used by the school’s arts “We are all incredibly excited to final- the school’s existing football fields into a and sports students. ise the last phase of the expansion with a “green carpet” for informal activity while dou- “My high school, formerly introvert- complex that not only provides the neces- bling up as a seating area for sports events. ed and dispersed, has become open and sary space and facilities for our students Construction materials and fi nishes are integrated through two focused interven- but also with abundant opportunities for similar to the multi-purpose hall, as is its ar- tions. Even though each phase is auton- outdoor adventure. We could not have chitecture, creating a coherent visual iden- omous and complete, their introduction hoped for a better addition to Gammel tity for the school.

NEWS | Th e Fawkner off ers park living within the city

BY CARMEL DOMINIC fi nish expected of St Kilda Road apartment [Th e] building has been redesigned to de- parking spaces and 15 tandem car spaces. developments. liver larger apartments, off ering purchasers Th e building will be given a new refl ective MELBOURNE: Th e 18-storey Fawkner Cen- So far, 40% of Th e Fawkner has already an opportunity to consolidate apartments. glazed façade. tre on 499 St Kilda Road in Melbourne, Vic- been sold. Prices start from A$435,000 “Th is project is an example of how ageing Th e Fawkner is a short distance from Mel- toria, will be converted for residential use (RM1.26 million) for a 1-bedroom apart- offi ce buildings along St Kilda Road can be bourne’s CBD, allowing residents to explore following its recent acquisition by real estate ment, A$770,000 for a two-bedroom and converted into market-leading residential the city’s array of dining, shopping and en- investment manager Qualitas. A$1,170,000 for a three-bedroom unit. developments [that the market talks about]. tertainment opportunities while basking in Qualitas’ partner in the joint-venture “Ideally, the purchaser profi le for a project However, this will be one of the fi rst exam- the green spaces of Th e Royal Botanic Gar- project is the LAS Group. like this is going to be someone very discern- ples to launch in the market in recent times, dens and Albert Park. The landmark building that currently ing, someone who has lived in quite a nice and certainly the fi rst of this scale, making It will also off er a concierge service and houses offi ce tenants will undergo a A$300 family home and is seeking a very clever it a unique off ering,” Fischer is reported to a porte-cochère as part of its fi ve-star, ho- million (RM860.53 million) redevelopment and intelligent fl oor plan and strong level of have said. tel-like amenities. dubbed “Th e Fawkner” and off er 248 units fi nishes in the project,” Fischer was quoted Th e reconfi guration of fl oor plans for Th e Th e Fawkner is 90 metres away from the of one, two and 3-bedroom apartments, and as saying in an Urban Melbourne report. Fawkner, which sits on a 6,070 sq m site, is closest tram stop and train facilities are fi ve penthouses. He notes how there are very limited op- being undertaken by bespoke architectur- within 1.3km of the site, off ering quick and Qualitas managing director for Real Es- portunities to live directly within a mature al fi rm and interiors practice Kerry Phelan easy access into Melbourne City or the city’s tate Principal Investments Mark Fischer says parkland like Fawkner Park and cites Lon- Design Offi ce. eastern suburbs. Th e Fawkner is largely driven by a desire don, New York and Tokyo as examples of Th e development has a residents’ lounge, Th e Arts Centre Melbourne and the Aus- to cater to the owner-occupier and down- cities with premium residential buildings gym, sauna, spa and steam room, pool and tralian Centre for Contemporary Art are sizer markets that appreciate generously on a parkside location. terrace overlooking St Kilda Road and ac- located in the vicinity, as well as historical sized apartments (having owned houses) “As the project is an existing offi ce struc- cess to Fawkner Park. landmarks, including the Shrine of Remem- with excellent amenities and a standard of ture, we are able to retain the high ceilings. Th ere will be two basement levels with 272 brance and Victoria Barracks. FRIDAY MAY 15, 2015 • THEEDGE FINANCIAL DAILY EP14 PROPERTY | HOME IDEAS

PHOTOS BY EN AND RAND

01 02

01. A cat wall in a cat haven.

02. Fittngs on the study desk where the cat can hang out.

03. Cat-friendly ceiling features in the living room.

04. Television console and cat ladder.

05. En and Rand with their beloved pet.

06. Customised study desk. 03 04 ‘Kitty’ homes

Creating the purr-fect home for your pet

BY ELENA TUNKU SHERIE So, how do they know what the kit- client who has a dog with short legs and ties would like or not? Simply through wanted to custom-make a bed. i Si’en and Guerrand Lai research. “We made a bed for the dog with a Jiemin, or En and Rand as “We choose warm colours; happy platform step so that it would be easy for they prefer to be called, have tones. But that’s just us. Some custom- it to get on and off ,” she says. always had a passion for cats. ers prefer a more Zen style, some even Currently, En and Rand are focusing 05 Hailing from Singapore, the request glass catwalks. What our cus- on customers in Singapore as both are two met in school. Even as tomers, want we try to accommodate,” juggling full-time jobs. Lchildren, their love for felines was ap- quips the duo. “We would love to expand to other parent and it eventually brought them Rand adds that all their knowledge countries and we do get calls from peo- together. The happily married couple of cats is based on previous experience, ple abroad requesting for designs for now design home interiors to accom- articles, documentaries and the like. them, but it’s rather hard as both of us modate the needs and happiness of their According to En and Rand, their love are working. Distance is also a factor,” furry friends. for cats suits a niche market of customers En explains. Th e idea came about when they res- who are looking to design suitable homes Th ey do, however, plan to test the wa- cued two cats, Dora and Boots. Rand says for their cats, and who prefer design- ters in Singapore and hope to mass-pro- they want to give cats and cat lovers the ers who love and understand them [the duce furniture products for cats. best of what they need for a happy home. pets] as well. Designs are done to suit the “We are looking into designing some “We just want to share our love for cats characteristics of the cats in the house. products that can be folded and packed, with other people by doing this… Cats, “We had a client whose cat is a sprayer like an IKEA product but for cats. Who too, deserve a happy home,” says Rand. (pees all over). So, we had to take that knows, perhaps we will venture into prod- It’s only been three months since they into consideration, apart from ensur- ucts for dogs and other pets, too,” they say. started J.EN & C.RANDdesigns, but En ing that the [furniture] lasts long,” ex- and Rand have already received sever- plains Rand. al orders for custom-made designs for Th e couple also designs fi ttings for En and Rand can be reached at cat-friendly homes. dogs on request. En recalls a particular [email protected]. 06