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Elmina Valley Phase 3 Launch This Weekend

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Elmina Valley Phase 3 Launch This Weekend TEP 2 FRIDAY JULY 22, 2016 • THEEDGE FINANCIAL DAILY NEWS HIGHLIGHTS from TheEdgeProperty.com REUTERS Strata Management of i-City in Shah Alam credited it to Tribunal receives 1,192 BNM: Financing not the only problem faced stronger property sales. by fi rst-time home buyers Its revenue rose by 64.39% to cases to date this year RM86.68 million in the quarter, Some 1,192 cases have been filed First-time home owners continue to have access to fi nancing, said Bank from RM52.73 million. at the Strata Management Tribunal Negara Malaysia (BNM), in response to calls for lending guidelines to be In the financial period to date (SMT) since the beginning of the reviewed to ease home ownership for fi rst-time home buyers. (1HFY16), I-Bhd made a net profit year. In a press release, BNM said it believes access to credit is not the of RM30.04 million, up 60.17% year- In comparison, there were 400 only problem confronting potential buyers in owning aff ordable houses. on-year. Revenue for 1HFY16 came to cases fi led from the middle of last “More fundamental issues that require resolution are aff ordability and RM167.12 million, which was 30.49% year to end-2015. shortage of supply of reasonably priced houses,” said the central bank. higher than the previous corre- “Most of the cases were against “About 75% of borrowers (about 1.5 million bor- sponding period’s RM128.07 million. home owners who failed to pay ser- rowers) with housing loans are first-time house Compared to 1HFY15, I-Bhd vice charges. This has become one buyers,” it noted. said the property division record- of the biggest issues of high-rise ed strong sales “from existing living,” said legal professional Datuk projects such as i-SOHO, i-Suite, Pretam Singh at a press conference Liberty, Parisien Tower, and new at the Property Management Time launches during the year including Bomb Seminar 2016. 8Kia Peng and Hyde Tower”. Pretam noted that the SMT is an effi cient way to address and resolve problems related to strata homes RHB cuts BR, BFR and management faced by various Naza TTDI to launch SM Nasimuddin and BLR parties including purchasers, Joint RM1.4b worth of in a statement. Management Bodies (JMB), manag- The project is lo- RHB Bank and RHB Islamic Bank ing agents and developers. projects in 2H2016 cated in Taman will revise their base rates (BR) to “The SMT can hear claims up Naza TTDI Sdn Bhd plans to launch Tun Dr Ismail, 3.8% from 3.9% per annum, and TheEdgeProperty.com The Edge Property Sdn Bhd (1091814-P) to a limit of RM250,000, whereas projects worth RM1.4 billion in the Kuala Lumpur. base lending rates (BLR) and base Level 3, Menara KLK, No 1 Jalan the Homebuyer Claims Tribunal’s second half of 2016, as it expects The compa- financing rates (BFR) to 6.75% PJU 7/6, Mutiara Damansara, 47810 Petaling Jaya, Selangor, Malaysia limit is RM50,000. In addition, all the appetite of property hunters ny added that it from 6.85% per annum effective the cases fi led at the SMT will have looking for good value property plans to launch SUHAIMI YUSUF / Friday (July 22), said RHB Banking Th eEdgeProperty.com to be heard and disposed within 60 investments to rise following Bank high-rise resi- Group in a statement. days,” he explained. Negara Malaysia’s recent interest dence TTDI Olivina in TTDI Alam The move is in line with Bank Managing Director/Editor-in-Chief For errant home owners who rate cut. Impian in Shah Alam, in August. Negara Malaysia’s (BNM) recent A u Foong Yee fail to comply with the decision of BNM had lowered the bench- decision to reduce the overnight EDITORIAL the SMT and insist on mark overnight policy rate (OPR) policy rate (OPR) to 3%. Editor Lam Jian Wyn not paying the service last week, from 3.25% to 3.0%. I-Bhd's 2Q profi t “The revision in rates will spur Contributing Editor Sharon Kam charges that he/she “Malaysia’s property market is a more agile financial environ- Deputy Chief Copy Editor jumps 72% on strong James Chong owes, legal action still resilient. TTDI Segaris’ highly ment. It will also promote great- Senior Copy Editor will be taken by the successful launch is a testament property sales er domestic demand and boost Shanthi Murugiah Housing and Local of the market’s healthy appetite I-Bhd’s net profit for the sec- economic growth, as well as ease Writers Rachel Chew, Tan Ai Leng, Natalie Khoo, Shawn Ng Government Ministry for properties in well-established ond quarter ended June 30, 2016 the fi nancial burden of our cus- Art Director Sharon Khoh by bringing them neighbourhoods,” said Naza TTDI (2QFY16) soared by 72.32% from tomers,” said RHB Banking Group TheEdgeProperty.com Design Team Nik Edra, to court. deputy executive chairman and the previous comparable period to managing director Datuk Khairus- Nurul Aida Mohd Noor group managing director SM Faliq RM14.68 million, and the developer saleh Ramli. For New Launches/Events/ / KENNY YAP Press Releases/News Tips Tel: 03-7721 8211 Fax: 03-7721 8038 How do I get past issues of this weekly pullout? Email: [email protected] trending Go TheEdgeProperty.com ADVERTISING & MARKETING to download for free Head of Marketing and Sales Sharon Chew (012) 316 5628 now Senior Account Manager Jayne Law (016) 929 3309 Account Manager If you have any real estate-related events, email us at [email protected]. Jayremy Sim (011) 1669 6039 LAUNCHES + EVENTS Marketing Support & Ad Traffi c Events listed here will also appear on TheEdgeProperty.com. Madeline Tan (03) 7721 8218 Email : [email protected] Venue: KSL Sales Gallery (Canary seminar about “Investing in Tokyo Venue: EcoWorld Gallery @ Eco NEGOTIATOR ADVISORY SERVICE Senior Manager Elizabeth Lay Garden), No 2, Jalan Langat KS9, post Brexit” during the event. Meadows, PT 740, Jalan Paboi, Senior Associate Stannly Tan Bandar Bestari, Klang, Selangor Mukim 14, Daerah Seberang Perai Associate Karen Wong Contact: (03) 3122 2999 Exclusive preview of Selatan, Simpang Ampat, Penang Gramercy Park in Singapore For enquiries and listings Celebrate this festive season Contact: (04) 510 2255 GL: (03) 7721 8175/ 8172 together with KSL Holdings Date: July 23 and 24 Experience the exciting Email: [email protected] at Canary Garden. Datuk (Sat and Sun) splashing water slides at Eco Chef Wan will be giving a Time: 10am to 7pm World Development Group Launch of Ridgefi eld TheEdgeProperty.com pullout is cooking demo at the event. Venue: Grand Hyatt Kuala Bhd’s Eco Meadows sales published by The Edge Property Sdn Residences Lumpur, Grand Residence gallery. Free admission but Bhd. It is available with The Edge Date: July 23 and 24 101, Level 1, 12, Jalan online registration is needed. Financial Daily every Friday. The pullout is also distributed at more (Sat and Sun) Pinang, Kuala Lumpur than 200 offi ces, shopping complexes, Time: 10am to 6pm Contact: (012) 366 9366 Offi cial launch of Cerrado condos, medical centres, F&B outlets Venue: Tropicana Heights Nawawi Tie Leung and Residential Suites at and LRT stations in the Klang Valley. Property Gallery & Show Huttons One World will be Southville City You can also download it for free at www.TheEdgeProperty.com Village, Off Jalan P6/2, introducing the Gramercy Date: July 30 and 31 Bandar Teknologi Kajang, Park project located in Grange (next Sat and Sun) Semenyih, Selangor Road, Singapore to interested Time: 11am to 5pm Th e Edge Malaysia Contact: (016) 239 7566 JLL unveils The Parkhouse Singapore property investors. Venue: Southville City EDITORIAL Tropicana Corp Bhd will be Nakano Tower Show Village, Bangi Editor-in-Chief Azam Aris launching Ridgefi eld Residences Date: July 23 and 24 (Sat and Sun) Slide The City at Eco Contact: (019) 988 3854 CORPORATE at Tropicana Heights, Kajang. Time: 11am to 7pm Meadows Mah Sing Group Bhd will be Chief Operating Offi cer Lim Shiew Yuin ADVERTISING & MARKETING There will be a special talk by (seminar at 3pm) Date: July 30 and 31 unveiling Cerrado Residential Chief Commercial Offi cer Urban Land-use/Transportation Venue: Westin Hotel Kuala (next Sat and Sun) Suites at Southville City. Prices Sharon Teh (012) 313 9056 Planner Gok Bok Yen entitled Lumpur, Level 2, Straits Time: 10am to 6pm start from below RM500,000. General Manager, Digital Media Kingston Low (012) 278 5540 “New lifestyle with Kajang Boardroom, 199, Jalan Bukit Senior Sales Managers Transforming into a growth Bintang, Kuala Lumpur Fong Lai Kuan (012) 386 2831 hub” at 2.30pm on July 24. Contact: (012) 326 3800 Peter Hoe (019) 221 5351 Gregory Thu (012) 376 0614 JLL Property Services presents a Creative Marketing KSL Hari Raya Open House property investment opportunity Chris Wong (016) 687 6577 Date: July 24 (Sun) near the JR Nakano station, Head of Marketing Support & Ad Traffi c Time: 11am to 4pm Tokyo. There will also be a Lorraine Chan (03) 7721 8001 Email: [email protected] FRIDAY JULY 22, 2016 • THEEDGE FINANCIAL DAILY TEP 3 NEWS Elmina Valley Phase 3 launch this weekend SUHAIMI YUSUF / TheEdgeProperty.com BY RACHEL CHEW SHAH ALAM: Sime Darby Proper- ty will be launching Elmina Valley Phase 3 (EV3), the third phase of Elmina West in the City of Elmina township, this weekend at its sales gallery in Bukit Subang. EV3 carries a gross development value (GDV) of RM280 million. It is part of the City of Elmina, a 5,000- acre freehold township with a GDV of RM25.8 billion.
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