RM NOV 2017 ISSU 8.50/S$8 E 1 53

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Managing Editor CEO’S FOREWORD Roshan Kaur Sandhu Writers Reena Kaur Bhatt Mira Soyza Kayla Denise Michael & iProperty.com.my

Editorial Coordinator moving forward, together. Nur Alia Ahamd Tamezi

Head of Creatives “Build it and they would come” was a line made popular by Angeline Lim Kevin Costner and James Earl Jones in the 3-time Oscar winning movie, ‘The Field of Dreams’. It could also sum up the Senior Graphic Designers way cities and towns have evolved in Malaysia. Wing Wong Jason Kwong One such example is . Formerly a rubber estate, Junior Graphic Designer Petaling Jaya was developed with the purpose of diverting the Rechean Soong population away from the capital . New towns bring new opportunities and people soon started moving to CEO REA Group - Asia Petaling Jaya in search of employment and better standard Henry Ruiz of living. Over time, Petaling Jaya eventually became a city in its own right and today, PJ as its famously known, is home CEO - REA Group Malaysia & Singapore to various commercial and retail presence. It is also home to more than 600,000 urbanites, all within an area of 97.2 sq km. Haresh Khoobchandani General Manager (Marketing) is another example. A former rubber plantation, Seafield Estate, Wong Siew Lai Subang Jaya was developed by Sime UEP Properties Berhad, the property arm of General Manager (Agent Sales) conglomerate, Sime Darby. Today 948,296 people (Source: 2015 population census) call Leon Kong it home. General Manager (Developer Sales) Sean Liew These 2 cities and many more across Malaysia probably wouldn’t have enjoyed the growth without proper transportation facilities and infrastructure. Above all, the General Manager (Data Services) Premendran Pathmanathan organisation behind the development had to be to be open to change. Group Regional Finance Director Change is evolution. You can delay it but you cannot deny it. Esther Monks The then federal government’s bold decision to disrupt the way people live, work and Head of Media Sales & Ad Ops commute and build more expressways and highways in Valley because of the Martin Goh increasing size and population of the conurbation and the massive traffic Head of Content jams along Federal Highway, certainly accelerated the growth of these 2 cities. Gabriel Ong Head of iProperty TV It would’ve been easy for companies like Sime UEP that have been around as long as Jonathan Ong they have to suffer from a deep embedded conservatism and subscribe to the “Because that’s the way we’ve always done them around here” ideology and resist change.

General Manager (Sales & Marketing) Credit must be given to Sime UEP Berhad and Sir Gerard Templer, the then Petaling iProperty.com Singapore District Council Chairman for wanting to innovate and embrace the earliest concept of Vincent Sim disruption to build what has become examples of modern cities in Malaysia. Head of Marketing & Content, iProperty.com Singapore Change is an evolution. Not a revolution. Leslie Lin Fast forward 20-or so years later, cities and the way we live, work and commute are being disrupted again; This time by the Mass Rail Transport system.

iProperty.com Malaysia Sdn Bhd (600850-K) Cities like companies face numerous challenges (and with it opportunities) brought Suite 11.01, Level 11 Menara IGB about by a digital future. Mid Valley City, Lingkaran Syed Putra 59200 Kuala Lumpur, Malaysia The commencement of the - MRT line has resulted in a spurt of Phone: (603) 2264 6888 development in Sungai Buloh. It has also birthed a new concept in property - Transit Fax: (603) 2264 6900 Oriented Development (TOD). Sales enquiries: [email protected] Editorial matters: [email protected] Much has been said, published and discussed about TODs but the greatest benefit it will General enquiries: [email protected] bring is to the community in and around the Greater Kuala Lumpur area. Subscription: [email protected] International Property: [email protected] Today, more than ever before, cities need to draw on contemporary lessons from the iProperty.com Malaysia Sdn Bhd (Johor) business community to help them navigate an increasingly complex future. It also A-2-7, Pusat Komercial Bayu Tasek involves a shift in mindset. Persiaran Southkey 1, Kota Southkey 80150 Johor Bahru, Johor Planners and the property industry could do well to be open to change and listen to the Phone: (607) 300 0013 sound advice of Kevin Costner and James Earl Jones – “Build it and they would come”. iProperty.com Malaysia Sdn Bhd (Penang) Bay Avenue D -25-3, Lorong Bayan Indah 2 Bayan Lepas, 11900 Penang Sincerely, Phone: (604) 645 9899 Fax: (604) 611 1599

Disclaimer Although every reasonable care has been taken to ensure the accuracy of the information contained in this publication, neither the publisher, editor nor their employees and agents can be held liable for any errors, inaccuracies and/or omissions, howsoever. We shall not be responsible for any loss or damage, whether direct or indirect, incidental or consequential arising from or in connection with the contents of this publication and shall not accept any liability in relation thereto. The views by our contributors expressed here are their personal opinions and do not necessarily reflect iProperty.com’s views. HARESH KHOOBCHANDANI Unless otherwise noted, all artwork and ad designs printed in iProperty.com Magazine are the sole property of iProperty.com Malaysia Sdn Bhd, and may CEO - REA Group not be reproduced or transmitted in any form, in whole or in part, without the prior written consent of the publisher. Malaysia & Singapore

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2 CEO’S FOREWORD SPECIAL FOCUS – 40 Subang Jaya: An evergreen 6 MANAGING EDITOR’S NOTE residential hotspot 6 29 Subang Jaya still a homebuyer’s HAPPENINGS hub

36 5 stops in Subang Jaya you need to check out on the COVER STORY LRT line extension 8 IQI: Changing lives through real estate 38 Gen-Ys favourite malls in Subang Jaya

FEATURED PROPERTY MARKET WATCH 12 Seek success with Suasana Iskandar 40 London properties ripe for the picking

BUDGET 2018 WISH LIST POINTS OF INTEREST 14 Financing help and strategic housing plan top Budget 2018 44 Gen-Y pilot raking in RM15k from wish list homestay business 44 48 Building defects and rights of buyers 20 HAPPENINGS

COFFEE WITH CHARLES iPROPERTYiQ.COM 53 Growing a township 22 and KLCC: Buyers’ favourites

25 10% jump in sales of pricier homes 53 in Iskandar Malaysia

Managing Editor’s note Contents Recently, I had an interesting chat KNIGHT FRANK FINDINGS with a very young property investor, 73 Knight Frank forecasts Kuala Ajib Adi and he was sharing with me Lumpur to see 2.5% growth in his triumphs and some investment tips. prime office rental over next three As it is presently a buyer’s market, he years has managed to grab good deals in 83 Kuala Lumpur high end the secondary as well as the primary condominium market 1H2017 market. He will soon be featured in the 54 upcoming months sharing some very 86 Kuala Lumpur & Beyond Kuala Lumpur (Selangor) office markets important investment tips. highlights 1H2017 The Special Focus section this month features Subang Jaya, which POINTS OF INTEREST according to iPropertyiQ data is still a 54 6 risks you need to know about homebuyer’s hub. Latest transaction Airbnb INTERNATIONAL SECTION activities might record moderate 90 INTERNATIONAL NEWS volumes but residential demand on the Happenings CONSUMER AWARENESS ground remains high. 92 SINGAPORE NEWS The area is an important as the 57 Before & after: 1 kitchen, 3 different Happenings renovations property. As such, latest iPropertyiQ 95 INTERNATIONAL BRIEFS findings in August 2017 revealed that 59 Keep vs. throw: Decluttering A foreigner’s guide to investing in Puchong and KLCC remain the buyer’s the bedroom Singapore properties favorites when searching for property in 61 The future of home tech is right Klang Valley. Furthermore, Rawang also here, right now made it to the top 10 list of areas that AGENT’S ADVICE aspiring homebuyers have their eyes on. 63 Why electro botanical is spring’s vibrant new trend 98 Mont Kiara: Where long term In the past year, opportunities lie has progressively grown to be the most popular target area among those searching for a condominium in REGULARS 102 Selangor, registering a 95% jump in the 65 Feng Shui guide to choosing a CLASSIFIEDS number of leads dropped to realtors. KL good home Sentral and Bangsar South rounded up 112 the top 3 popular areas list. SUBSCRIPTION For those Gen-Ys who are looking for INDUSTRY UPDATE invaluable tips on property investment, 66 What makes a good developer? Zaini Zainal (30 years old) is certainly an investor you want to be following in 68 Traits of a responsible housing developer the footsteps. His homestay business has generated a staggering monthly income of RM 15K. Read on more on page 44. This issue also comes in packed with a pull-out of the AAA Awards 2017. Last but not least, the iDEA awards ceremony is on the 16th November 2017 at KL Hilton. Look out for the winners in our upcoming issue! Enjoy the read!

63 Roshan Kaur Sandhu HAPPENINGS

UEM Sunrise unveils Residensi Solaris Parq in Kuala Lumpur

UEM Sunrise Berhad launched Dutamas enclave and will consist of and is set to enhance the attractiveness Residensi Solaris Parq, the first phase four components, namely Residensi, of Mont’ Kiara and Dutamas as a of its mixed-development, Solaris Galleria, Suites and Office which destination to live in, given its wide Parq, at the UEM Sunrise Showcase will be launched in two phases. The array of work and lifestyle offerings. in Mont’ Kiara, Kuala Lumpur on Solaris Parq development commands Speaking during the media launch, 9 October, 2017. Located right a gross development value (GDV) UEM Sunrise’s Managing Director/ beside UEM Sunrise’s creative retail of approximately RM3 billion and is Chief Executive Officer, Anwar Syahrin subsidiary, Publika, the overall Solaris expected to replicate and complement Abdul Ajib said, “We set out to develop Parq development will sit on 18.76 the success of Solaris Dutamas. Solaris Parq as a project that will acres of freehold land within the Its serviced apartments, Residensi transform the scene at Mont’ Kiara Solaris Parq, marks the development and Dutamas. We want the area to phase of Solaris Parq, with retail, suites not only be a desirable place where and office components following up people want to live in but also be the closely in the second development preferred destination for work and phase. Commanding a GDV of play. We have exciting plans for the approximately RM755 million, Residensi development where we will weave Solaris Parq is designed to showcase a innovative architectural features as well harmonious blend of nature and luxury, as technology into the design concept.”

UEM Sunrise welcomes 24 new retailers at Arcoris Plaza

UEM Sunrise Berhad welcomed 24 retailers at Arcoris Plaza in a symbolic launch ceremony held recently. The company’s latest retail development at Mont’ Kiara, Arcoris Plaza will expand the commercial offerings of one Kuala Lumpur’s most affluent international enclaves and will swing into operations in January 2018. Arcoris Plaza will build on the success of Publika in Solaris Dutamas, the pioneering creative retail concept in Malaysia by UEM Sunrise. Arcoris Plaza will host a wide retail mix of Doctors, Gong Cha & Wetzel’s Pretzel, our commitment to deliver quality F&B, fashion, health & beauty, leisure, Hair-S Signature, Merchantrade developments through innovative gifts & hobbies, sundry & services, Asia, myNews.com, Playground, San thinking. This is being underscored edutainment and general retails. The Francisco Coffee, Starbucks, The Lush at every step of the process, from Majapahit, (Thai-Indonesian Fusion Clinic, TOKUYA, Trishetto Laundrette the master planning stage all the way Restaurant); Kumar (Indian Fine and Wall Street English. through the execution of the project. Dining Restaurant); Japan Grocer; In his speech, UEM Sunrise’s We endeavour to continue delivering Children Discovery House; and Tribe Managing Director/Chief Executive top quality developments that will be among the anchor retailers Officer, Anwar Syahrin said, “We present boundless functionality and housed within the four-storey plaza. are extremely excited to bring aesthetic sensibility as well as foster The other retailers will include Arcoris Plaza to the communities of a vibrant mix of communities which ALPRO Plus Pharmacy, Café Bistro, Mont’ Kiara as each project by UEM are essential in enhancing today’s Chica Chico, First Step Coffee, Global Sunrise is an opportunity to renew discerning lifestyles.”

PB 7 1

Changing lives through real estate

Within 12 years of its inception in Malaysia, IQI (International Quality Investment) has won awards, expanded globally and turned its business into a billion-dollar gold mine. But their biggest achievement yet lies in the heart and soul of the lives they’ve touched.

- MIRA SOYZA

8 9 COVER STORY

“Once we were able to switch their mindset, they started owning it and began to understand that it’s not just about the business. In IQI, they are partners and family – they are an integral part of the company.” - KASHIF

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1 (From the left to right) ashif Ansari, Nabeel Mungaye whatever business that we are involved Shahid Saleem, Group CFO of IQI Dave Chong, CEO of Mykey Global and Shahid Saleem wore the in, it should leave some kind of impact. Kashif Ansari, Group of CEO of IQI Kbrightest smiles as they stepped This is important because if your Nabeel Mungaye, Group COO of IQI into the interview room at the IQI direction is clear then it’s easy to work 2 Kashif Ansari, Group of CEO of IQI office. Having had just finished the around it,” said Shahid, Group Chief photoshoot, they shared laughter Financial Officer. about a particularly funny incident IQI Global, a real estate investment as they settled into their seats. Their firm that represents high net worth conversations were light, and yet there individuals and institutional investors was exuberance and passion in the was founded in Dubai. In a strategic way they spoke about the company, move, they made the decision to move possibly the exact factors that drove into South East Asia as they saw its them to cross the ocean towards their potential in becoming the next major South East Asian success today. But global growth region. Malaysia was the real story doesn’t lie in the narrative only a transit point then and was not of how they turn IQI SE into a billion- marketed as a corporate destination for dollar business, rather the core of the those looking to expand in this region, business itself. and yet it already boasted developed “From the beginning, it has always infrastructure, high English language been about how we can change the literacy and a host of untapped talents. society and what kind of impact we They saw that even amidst the Global have on people and that is IQI at Financial Crisis, Malaysia still showed the core. We wanted to be sure that great potential for investment.

8 9 “From the beginning it has always been about how we can change the society and what kind of impact we have on people and that is IQI at the core… we wanted to be sure that whatever business that we are involved in, it should leave some kind of impact.” - SHAHID

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While investing here, they realised conversational style, requires some We live by these core values and as a that there was a lack of proper modification to the global standards of result our team has now risen to the training and trust between the agents customer service. challenge and they are actually able to and buyers. To top that, the agents’ “If you’re used to the standard of take them on themselves.” knowledge of the products and their customer service in the Middle East To empower the people, they ability to accurately, honestly and or in Europe, you’d find the customer provided world class training and convincingly convey information was service here quite different. But at the support, during which a positive insufficient. In a bid to change this same time, you’d realise that you can’t mindset was cultivated. “Changing of culture, they decided that the next use the same blue print over here. So the mindset was our biggest hurdle. logical move would be to found an we had to localize it to the regional We wanted to shift their mindset from agency that enables them to build their market and that was one of the agent to investment consultant - so own team of well-trained and highly- challenges that we faced. But the key is we took them to our global offices knowledgeable real estate agents. And to win them in the battle of hearts and as well as various property expos all that marked the birth of IQI in South minds,” shares Nabeel Mungaye, Group around the world. This way they get to East Asia. Chief Operating Officer. meet different people and receive the The management team at IQI exposure they needed to change,” says Changing mindsets believes in walking the talk and leading Shahid. While IQI is known for its ability to by example which is why those in Kashif Ansari, the Group CEO, recalls adapt the best international practices the leadership roles embodied and a time when agents weren’t given to the local landscape, the move practiced the same core values that the respect their profession deserved came with its own sets of unique are impressed upon the team. “We by developers. “We made sure the challenges. Exemplary customer believe strongly in ethics particularly agents were given proper treatment service, for example, is something in the importance of creating a because they are the ones doing sales that IQI believes strongly in and it is trusting relationship with buyers; we for developers. We also made sure certainly a requirement of businesses are innovative (in both business and that our agents understand that they in the Middle East and Europe. South technology) and we go beyond the deserve the respect as well, because East Asia, however, perhaps with norms; and as you can see at the office they are the ones selling dreams.” its more result oriented and direct here we are also very open and inviting. Kashif adds, “Once we were able

10 11 COVER STORY

“We believe strongly in ethics particularly in the importance of creating a trusting relationship with buyers; we are innovative (in both business and technology) and we go beyond the norms” - NABEEL MUNGAYE

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to switch their mindset, they started interior design firm (IQI Concept), believe that a simple act of kindness owning it and began to understand as well as property management & will be returned in kind, IQI encourages that it’s not just about the business. In valuation. their agents who are struggling to sell to IQI, they are partners and family – they Today, the team encompasses contribute to charity. If that principle is are an integral part of the company.” 35 nationalities who speak over 25 anything to go by, it is no surprise that “We have a ‘Happiness’ manager different languages and have served IQI remains the unstoppable force that it in the office and a ‘Happiness’ team. more than 5,000 clients this year is today. Their job is to take care of anyone alone, which is a 200% increase from who’s down or going through a difficult the previous year. This incredible Expansion plans: Locally and globally time and make sure that everyone is success can only be attributed to the Now, it is on its way to expanding and happy and well taken care of. That’s core values and vision in serving their strengthening its reach throughout the kind of bond and positivity we have customers and the society that they set Malaysia, particularly in Penang and created here; we share moments of joy, from the very beginning. Johor. Penang will be expecting an sadness, sorrow and happiness,” says increase of offices by next year; while Shahid. In fulfilling this, IQI has been running the company expects rapid growth in From providing training to creating a an orphanage called Rumah Aman in sales and personnel in Johor with all technological platform, and to closing for the last 10 years that the exciting projects that are currently deals, IQI makes sure that their agents consists of nearly 70 boys and 30 girls. happening there. are equipped with every tool and skills These kids are ensured the best of On the global front, they are working that will shape them into better agents. education, food, care and a chance at their way up to become Asia’s number “Many people try to replicate what normal life. “What my kids have, these one global real estate firm in the next we do, perhaps even by using similar kids have them too,” says Kashif. “This five years with penetration into 30 terminology, but money cannot buy is because we want them to grow up countries, 1000 offices set up and a total something that comes intrinsically from without any complex or disconnect number of 100,000 agents employed. the heart,” says Kashif. and are fully capable of integrating into Q1 will see the expansion to Indonesia the society. We are currently planning (Jakarta and Surabaya), while Q3 will Selling dreams, creating future for the internship of a few of the older see them expanding into Thailand and IQI has made a tremendous growth kids there.” Cambodia. IQI is also working closely ever since. They’ve gone above and Due to the effectiveness of their with associates in China to set up new beyond, offering 360 services around campaigns, Rumah Aman constantly offices in Shanghai. real estate that include: real estate has a large excess of provision which investment advice, co-development are used to support 10 to 15 other 3 Shahid Saleem, Group CFO of IQI and funding, marketing and sales, charity homes. And as they strongly 4 Nabeel Mungaye, Group COO of IQI

10 11 Seek success with SUASANA ISKANDAR

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Surrounded by a host of top-notch amenities, excellent local connectivity, as well as convenient access to Singapore – as the only integrated residence development closest to the Johor CIQ — be where the action is & enjoy the very best in connectivity.

uasana Iskandar offers a Serviced Residences successful lifestyle with its 339 freehold & ready-to-move-in S35-storey integrated commercial serviced residences are available development of serviced residences, from RM770,000. Choose from the the very first Amari Hotel in Malaysia & Premium Suites to the Types A, B, and the Zenith Lifestyle Centre – right in the C floor-plans, which offer unit sizes heart of the CBD in downtown Johor ranging from 644 sf to 1,235 sf and be 2 Bahru. complemented by beautiful sky pools, Also, with the Johor Coronation gym and Sky Bar @ Level 34. Square just across – the maiden With the Samsung’s SMART HOME project under the Ibrahim International system, control your entire home Business District (IIBD) and part of the with just a tap on your smartphone. greater transformation plan of Johor Included are the Samsung AV intercom Bahru — Seek Success with Suasana system, Samsung Smart Door Lock, Iskandar. Wireless Smart Gateway and Wireless 3 Motion Sensors.

12 13 FEATURED PROPERTY

1 Johor Bahru City Centre. 2 Suasana Serviced Residences Lobby. 3 Zenith Lifestyle Centre. 4 Suasana Iskandar from Jalan Trus.

Close-by Attractions Located nearby is Komtar JBCC (Home to the Angry Birds Activity Park), City Square Shopping Mall, and Persada Johor International Convention Centre. Whilst the Johor Bahru Heritage Trail, Bazar Karat Night Market, Sultan Abu Bakar Mosque, Johor Premium Outlets (JPO), LEGOLAND Malaysia and Hello Kitty Town are also less than 25 minutes away.

Best Connectivity Also close-by is the JB Sentral Transportation Hub, KTM Shuttle Tebrau and the Sultan Iskandar Custom Complex (CIQ). Incidentally, Suasana Iskandar prides itself as the only integrated residence development 4 closest to the Johor CIQ to Singapore. Additionally, the future Bukit Chagar Rapid Transit System (RTS) train station will also offer direct connectivity to Singapore, with the Services include: 1GB Fibre-to-home Food Gallery restaurant, Breeze Spa, a RM38.4 billion High Speed Rail (HSR) dedicated line to each unit, the ability 24-hour fitness centre and swimming project which will connect Malaysia to make virtual utility bill payments, pool. An Executive Lounge and diverse & Singapore set to be operational by in-building mobile coverage in lifts and meeting options are available – along 2024. carpark areas, an automated waste with free high-speed internet. management system, along with air- Ibrahim International Business District (IIBD) conditioned residential lifts. Zenith Lifestyle Centre Completed in October 2017, this The Zenith Lifestyle Centre has over Additionally, as a strong catalyst which stunning residence is ready for 55,000 sf of retail space throughout will further drive business to Suasana all proud owners to truly enjoy a its sprawling 2-storey podium, which is Iskandar, situated right opposite is the cosmopolitan lifestyle. connected to both Suasana Serviced Johor Coronation Square – the first Residences and Amari Hotel. project under the Ibrahim International Business District (IIBD) which cov- Amari Hotel Johor Bahru Offering some of the very finest F&B With seamless connectivity to outlets such as – Gogirou BBQ Meat ers 250 acres in the city centre, with the Zenith Lifestyle Centre, the Street, Morganfield’s & GuoMa Taiwan a gross development value of RM3 international Amari Hotel Johor Bahru Steamboat, as well as entertainment billion. is a place to recoup your boundless centres in downtown Johor Bahru, the energy & make countless beautiful Zenith Lifestyle Centre is a place where For more information, please log on memories. a lively social environment brings out to our website: http://thesuasana.com.my The 4-star hotel offers stylishly the best in everyone. or call us at: +603-26308393. Show unit furnished rooms & suites, the Amaya open for viewing by appointment only.

12 13 BUDGET 2018 WISH LIST

14 BUDGET 2018 WISH LIST

Financing help and strategic housing plan top Budget 2018 wish list

Many are hoping that the government will rethink certain measures and introduce new incentives to help create a more sustainable property market. - REENA KAUR BHATT, MIRA SOYZA & KAYLA MICHAEL

INDUSTRY EXPERTS

Datuk Seri Michael Yam Warrick Singh Chairman of Triterra Sdn Bhd Director of Asian Land Realty Sdn Bhd; and Immediate Past President & Patron of REHDA Asian Land Auctioneers Sdn Bhd and Starfish Training Sdn Bhd

• The government should review, • It would be timely for developers • Malaysia has quite a few tracts of rationalise and harmonise all the to be gradually relieved of the need undeveloped wakaf land (inalienable Acts and legislation governing and to provide affordable housing, thus endowment land in Islamic regulating the business of housing enabling developers to optimise jurisprudence). These plots of land development. This smoothening of efficiency with the resultant profits are being left idle and should instead process should include the latest being taxed and ploughed back into be utilised for the development of Strata Management Act which has affordable housing. residential properties, of which should inhibited the smooth and speedy • There is also a need for new planning be rented out to the right target development process and its inability guidelines and legislation for groups, i.e Gen-Ys, fresh graduates to respond to market changing retirement homes to encourage, and young working professionals. conditions. optimise and quicken the • I strongly suggest that first-time • All bodies, departments or development of such special asset homebuyers be given a total stamp government entities involved in the class as Malaysia will evolve into an duty waiver, for properties costing delivery of affordable housing should ageing nation by 2030. up to RM500,000 and not just be consolidated and centralised the current maximum amount of to avoid oversupply, mismatch or RM300,000. unwanted assets. • The government’s efforts • Establishing a sustained programme in improving transportation for educating the public and infrastructure such as the MRT and consumers to assist them in making LRT extensions are commendable. an informed judgement on what to Nevertheless, more effort and proper buy, when to buy, where to buy and oversight must be implemented when who to buy from. it comes to last-mile connectivity to ensure proper delivery and full optimization of these connectivity links.

15 INVESTORS

Justin Chang Peter Phang Co-founder Executive Director JETK Innovative Tech UniPacific Corporate Services Sdn Bhd & Group of Companies

• Ensure that all state economic • The affordable homes being built • One of the most impactful measures agencies and GLCs (with vast must factor in the location and is to relax loan requirements for landbanks) who embark on building connectivity issue. Otherwise, house buyers. Many are struggling public housing, remain committed young Malaysians would rather to obtain the required margins to their cause. Quite a few of these rent instead of dealing with an of finance, home prices are just corporations which were set up ‘to unreasonable commute. In Sydney, too costly even for duo incomer provide sufficient homes for the one can stay 40 miles away and yet earners with a combined income rakyat’, are now competing with commute easily to the city centre of RM7,000 or more. Without an private developers by building daily because of the good road adequate loan sum, any other bungalows and niche condominiums infrastructure and availability of a incentives made available will mean instead. reliable public transport network. little or is of no significance to these • Establish a more strategic • If the government is serious about aspiring home buyers. government scheme housing plan. the ‘housing the nation’ agenda, • The Developers Interests Bearing The Federal and state governments then GST should be exempted for Scheme (DIBS) has been very should provide homes tailored and properties not costing more than useful in driving the local property priced accordingly for different RM500,000 in prime areas, etc sector forward by enabling many buyer segments. For instance, (price ceilings can vary according first time buyers to own a roof 1) Single working professional/fresh to state and area), thus assisting over their heads. A more refined graduates – Studio units not and encouraging developers and carefully revised version of exceeding RM100,000 in doing their part in building the DIBS which also looks into the 2) Married couples – 1+1 apartment affordable homes for the rakyat. long-term sustainable income of not exceeding RM200,000 a borrower will be worth a second 3) Families – 2+1 apartment not look to address the current housing exceeding RM300,000 stalemate. • A more well-organised and governmental driven public housing scheme is necessary. There has to be a better-planned development projection and timeline and also a more justifiable allocation and distribution to those who are really in need of help to ensure public housing are being distributed to the right segments of people.

16 17 BUDGET 2018 WISH LIST

REALTORS

Kevin Low Low Tung Real Estate Negotiator CEO Zerin Properties Metroworld Realty

• The soon-to-be-implemented • Removing and disbanding the • A decrease in the GST tax charged increase in stamping fees for real property gains tax (RPGT) for for commercial properties is properties costing more than RM1 the next 5 years will encourage necessary too for the stimulation million (from 3% to 4%) should transaction activity in a stagnant of the property market – many be re-examined. Considering the property market. Due to the aspiring purchasers are undeterred stagnant real estate market, potential economic and industry slowdown, to purchase due to the 6% tax. purchasers will be even more property prices are already falling Also, construction material for the disheartened to purchase, especially in certain areas, with many property building of affordable residential big-ticket units such as commercial owners forced to declare bankruptcy homes should be GST exempted. properties. A mere 1% increase in as they are unable to secure As residential properties are GST the fees would result in an additional tenants and service their monthly exempt, developers have to price RM20,000 for a RM2 million shop- repayments. in the cost of construction into office. • Friendlier investment policies for properties’ selling price, transferring • Banks should consider financing the foreign property purchasers is these extra cost to end-purchasers 6% GST property purchasers have to recommended, this will certainly help at the end of the day. fork out for commercial properties bring in much needed capital into the – this will certainly help lower the local real estate industry. The past required initial capital outlay and in 5 years have witnessed a decline in turn, encourage more activity in the foreign investments due to the strict commercial property sector. policies set by the government and • The GST rule for commercial local authorities. A comprehensive properties should be tweaked – it market study should be conducted is now compulsory for an individual immedietly to ascertain the who possess commercial property effectiveness and necessity of these or commercial land worth more than new, supportive policies. RM2 million at market price to pay GST if he/she sells off a commercial property, regardless the price and even when it costs less than RM2 million. Instead, GST should be charged only on commercial property transactions costing more than RM2 million.

16 17 GEN-Ys DEVELOPERS

Kasshvin Kumar Wong Yip Kent Tan Sri Lim Hock San Unit Trust Consultant Operations Executive Group Managing Director (28 years old) Bridzia Sdn Bhd (27 years old) LBS Bina Group Berhad

There have clearly been signs of It can’t be denied that the • We propose lowering income tax progress in the property sector as we government has begun to put in more rates as the additional margin in observed various initiatives taken by effort towards assisting Malaysian Gen- personal income can be used to ease the government from the previously Ys with home ownership as shown by the buyers’ burden when purchasing tabled 2017 Budget. Projects such as the measures announced during last their homes. Meanwhile, businesses, MyBeautiful New Home and PR1MA are year’s Budget. However, more must particularly developers can take great indications of more to come; in be done to make a difference, many the opportunity to reinvest in their aid of the lower income segment and millennials are still struggling to secure business. This move can lead to more importantly to spur on the idea of a home loan. improved productivity, more job property ownership amongst my fellow The government could offer a opportunities, boost the quality and Gen-Y. subsidy for the required 10% down quantity of developments besides Nevertheless, I wish to see banks and payment to remove this financial spurring the growth of the property developers being more open to the burden weighing down thousands of industry. idea of “no money down” or a minimal aspiring homeowners. Additionally, the • We hope for the easing of cooling down-payment housing package as I current 100% stamp duty exemption measures on the property sector believe the greatest hurdle is to raise for homes costing not more than such as the Real Property Gains Tax that 10% down-payment. And given the RM300,000 should be increased (RPGT) to further stimulate the local pace of property inflation, it is always to include homes priced up to property market and encourage going to be a cruel chase. RM500,000. This would be a great more Malaysians to invest or upgrade The following would be on my boost as it is almost impossible to find their homes. wishlist as well: a home costing less than RM300,000 • The government should lower the • Up to 100% loan for first time home in most areas in the Klang Valley and minimum threshold from RM1 million buyers with healthy Debt Service other big cities. to RM500,000 for foreigners looking Ratio Besides that, I would love to see the to purchase homes in Malaysia. • Most projects to have a certain following happen: • Additional incentives that will greatly percentage of units allocated for • Construction of new PR1MA homes in empower first-time home buyers Gen-Y first home buyers more strategic locations financially and bring them closer to • More tie-ups with developers to • A 100% loan financing for first-time realising their dream of owning a provide subsidized pricing on houses buyers with solid CTOS or CCRIS for Gen-Y first home buyers ratings • Partnerships with respected developers or special incentives given to these developers to include low-cost homes for projects in prestigious locations

18 19 BUDGET 2018 WISH LIST

Tan Sri Dato’ Sri Leong Hoy Kum Group Managing Director Mah Sing

home are the expansion of the stamp • There should be more flexible purchasers with more affordably- duty waiver to include properties schemes for private developers’ priced properties. priced between RM300,000 and projects. There are many good • In the property industry, GST of 6% is RM500,000. Incentives should also housing schemes in the market not imposed for residential projects. be granted to encourage developers such as PR1MA’s Skim Pembiayaan However, developers are still required to implement Industrialised Building Fleksibel (SPEF) that enables buyers to bear the GST for development System (IBS) into their practices. to have higher loan eligibility and a cost. We hope the Government • The government can consider setting fixed payment for the first 5 years but will be able to allow developers to up a special fund for developers, is only exclusive for PR1MA projects. claim the GST input tax credit for with an interest rate of 4%, to aid Such incentive should be extended to development costs incurred for and encourage more developers, private developers with units that are affordable residential products to especially smaller players, to build priced below RM500,000. lessen developers’ burden. more affordable homes. • We hope the government will • The government can consider • There should be incentives for be able to loosen mandatory revising the percentage of funds in township developers as they obligations to ease developers’ Employees Provident Fund (EPF) generally invest more in the overall burden on compliance costs such as Account One and Two. By increasing planning which includes the strategic contributions for utilities including the funds in Account Two from the layout of homes, infrastructure, TNB, Syabas and IWK, developer current 30% to 40% of EPF balances, accessibility and, among others. This charges, land conversion premiums, EPF contributors can have more will encourage more developers surrender of land and construction of funds in Account Two to pay the to take on more township facilities as these charges represent downpayment of their property developments. heavy compliance costs. All these purchase, to reduce housing would result in cost savings that loan amounts and pay monthly can be passed directly to home instalments.

18 19 Double win for Mah Sing at Human Resources Excellence Awards 2017

Mah Sing Group Berhad took home The Group believes that human two awards; Excellence in Workplace capital is the company’s greatest asset Wellbeing (Silver) and Excellence in that will lead Mah Sing to success. CSR Strategy (Silver) at the Human Hence, we will continue to develop and Resources Excellence Awards 2017 retain its people through successful that was held in Aloft Kuala Lumpur and effective human resource on 4 October, 2017. Being the only strategies that are closely aligned to its property developer to emerge business strategies. with accolades marks a big step in Mah Sing’s Group Managing Director, recognising the success of Mah Sing’s Tan Sri Dato’ Sri Leong Hoy Kum said, ongoing transformation programme “We want to incorporate healthy work- contributions amounting more than and testament to its tagline life integration, as Mah Sing believes RM11 million to the social and economic ‘Reinventing Spaces. Enhance Life.” in creating an atmosphere where development of the community. We The HR Excellence Awards employees are genuinely happy in even had volunteers from all levels of 2017 was judged by experienced what they do”. management volunteering in some practitioners in the Human Resource He added, “The Group also of our humanitarian efforts. I am industry. Among the panel of judges understands the power of giving delighted to say that the people in Mah include Mah Sing’s Head of People, back to the society. Our Mah Sing Sing are united in one goal - ‘Reinvent Chen Fong Tuan. Foundation has to date, made Spaces. Enhance Life.”

OCR launches Isola KLCC at Jalan Yap Kwan Seng

great convenience to promote a healthy work life balance. Speaking after the property launching ceremony, OCR Managing Director Mr. Billy Ong Kah Hoe said: “To date, we have already achieved 80% booking rate where half of it has signed the sales and purchase agreement. The response received was tremendously positive. Apart from local purchasers, we O&C Resources Berhad (OCR) reflected in the masterplan of Isola received support from international recently launched its latest luxury @ KLCC, where each unit occupies purchasers as well. They were service residence project – Isola a floor on its own. It is a low-density from Hong Kong, Indonesia, Korea, KLCC at Jalan Yap Kwan Seng (Isola development that offers only 140 Taiwan, China, England and so @ KLCC), a freehold project with units, ranging from one to three forth. Isola @ KLCC will have all a gross development value (GDV) bedrooms, with build-ups of 636 to the distinctive hallmarks of an OCR of RM240 million targeted for 3,390 sq ft. development – modern living, great completion by 2021. With its masterful design and location, superb connectivity and Isola @ KLCC is strategically modern luxury, along with a fantastic access to a wide-range of amenities located along Jalan Yap Kwan Seng, city view, Isola @ KLCC provides nearby. This complements the compromises four residential blocks. various facilities such as a business unique selling points that we will The name “Isola” is derived from centre, resident lounge, sky pool, be incorporating into the project to the Italian word meaning “Island”, indoor gym and party suite, offering appeal to our target customer base.”

20 PB iPROPERTYiQ.COM

Puchong & KLCC (August 2017)

Iskandar Malaysia (February 2016 - January 2017)

PB 21 Puchong and KLCC: Buyers’ favourites

Many aspiring purchasers are hunting for terrace homes in Puchong and studio units in KLCC - findings are based on data analytics captured from visitors’ interaction with iProperty.com.my and the resulting leads received by realtors.

- REENA KAUR BHATT

NOTE: The leads percentage captured represents the volume of property hunters who dropped enquiries to real estate agents for a specific property listing on iProperty.com.These leads indicate a genuine interest in purchasing as said consumers are contacting the agents for more details.

PREMENDRAN PATHMANATHAN Data Services GM Aspiring terrace home purchasers are scouting out these areas (Aug’17) iProperty Group

Top 10 Areas – Interest in terrace homes

Most iProperty.com.my visitors Puchong follows through when it it into the top 10 list of areas that home looking for terrace homes in Selangor comes to actual sales – According to buyers have their eyes on – previously in August 2017 were interested to iPropertyiQ data, Puchong garnered known as a mining and plantation area, purchase in Puchong. This township is the fourth spot in Malaysia’s most this up and coming neighbourhood has a mature residential neighbourhood pppular townships for sales of sub- seen the introduction of new residential and has always been popular among sale properties from October 2015 to projects in the recent years, including aspiring homeowners, hence attesting September 2016. A surprising trend to M Residence and Desa Country Homes. to its popularity note, however, was that Rawang made

22 23 iPROPERTYiQ.COM

How has homebuyers’ interests changed Y-O-Y? (up to Aug’17)

Y-O-Y growth in area’s popularity

Puchong retained its no 1 ranking realtors for terrace homes in Puchong appeal – the township now has 7 new in terms of growth in interest among increased by 88.4%. The new Ampang LRT stations including BK5 (Kinrara), IOI home hunters – compared to a year LRT extension which began operations , Pusat Bandar Puchong, before (September 2015 - August in June 2016 could be the main Taman Perindustrian Puchong, Bandar 2016), the number of leads received by contributing factor towards Puchong’s Puteri Puchong, and Puchong Prima.

Aspiring condominium purchasers are scouting out these areas (Aug’17)

Top 10 Areas - Interest in condominiums

22 23 iPROPERTYiQ.COM

In the condominium category, KLCC typically command prices in the range attractive RM460,000. This could emerged as the number one area for of millions. explain why KLCC is on the radar of aspiring property purchasers – an Nevertheless, after carrying out a home purchasers – studio units might be unexpected trend to note, considering quick check through iProperty.com considerably smaller, but the affordable the economic slowdown. Being the listings, it was observed that there entry point offers consumers, millennials heart of KL, KLCC has established itself are numerous new launches of studio especially with the option to own a as an exclusive area and properties there units, with prices starting from a very home right in the city centre.

How has homebuyers’ interests changed Y-O-Y? (up to Aug’17)

Y-O-Y growth in area’s popularity

In the past year, Ara Damansara has Bangsar South rounded up the top 3 Nevertheless, these hotspots which grown to be the most popular target popular areas list. are also home to many MNCs and area among those searching for a All three areas are affluent big corporations, boast fantastic condominium in Selangor, registering neighbourhoods, thus most of the connectivity and transportation links as a 95% jump in the number of leads residential units will bear prices in well as a slew of lifestyle components dropped to realtors. KL Sentral and the higher end of the spectrum. including renowned eateries, artisan cafes, malls and independent boutiques.

DISCLAIMER: The source of listing & leads data is from agents’ listings listed at iProperty.com. Analytics are based on the data available at the date of publication and may be subject to revision as and when more data becomes available.

24 PB iPROPERTYiQ.COM

10% jump in sales of pricier homes in Iskandar Malaysia iPropertyiQ.com data from Feb 2016-Jan 2017 reveals some exciting PREMENDRAN PATHMANATHAN tidbits about IM’s residential property sector. - REENA KAUR BHATT Data Services GM iProperty Group

Where are homebuyers purchasing? (%) Transaction breakdown by area (%)

Total Transactions = 8,300 Transaction volume (%) volume Transaction

1,245 homebuyers or 15% purchased into Skudai. Johor Bahru and Tebrau were popular residential hotspots too, garnering 13% and 12% of total transactions, respectively.

Which areas do aspiring homebuyers covet?

Homebuyer leads by area (%)

54% of visitors to iProperty.com.my were interested in residential products in JB and dropped enquiries to real estate agents to further explore their home search journey. JB, Iskandar Puteri and Skudai represents 80% of the interest shown in Iskandar Malaysia’s residential property.

PB 25 How has homebuyers’ interests changed Y-O-Y?

Homebuyer leads (%) Vs Y-O-Y growth in interest (%)

205%

Homebuyer leads (%) Y-O-Y growth in interest (%)

Undeniably, the majority of homebuyers were searching for properties in Johor Bahru. Nevertheless, areas such as Masai and Tebrau are rising in ranks as preferred residential neighbourhoods. Compared to a year before (Feb 2015 - Jan 2016), the number of searches for residential properties in Tebrau has surged by 205%.

What were the popular price ranges?

Preferred price ranges (RM)

Residential properties bearing average and above average prices garnered the biggest market share – units in the RM220,000-RM500,000 range captured 60% of the total sales across the 12-month period.

26 27 iPROPERTYiQ.COM

Which properties saw an increase in sales Y-O-Y? Y-O-Y Transaction Growth (%)

Higher priced units, i.e those costing above RM290,000 saw an increase in sales from the year before. The biggest transaction growth of 15% was recorded in the RM420,000-RM540,000 price category.

Which areas experienced high capital growth?

Median PSF (RM) Vs Capital Appreciation (%)

24%

18%

15% 14% 13%

11% 9%

7.5% 7% 6%

0.6%

Generally, residential properties were most expensive in Iskandar Puteri at RM390 PSF and in Gelang Patah at RM389 PSF. Nevertheless, capital growth movements typically are inversely related to prices – hence, higher appreciation was noted in areas with lower median PSFs. For instance, a Y-O-Y capital increase of 24% and 18% were recorded in Pasir Gudang (RM237 PSF) and Senai (RM238), respectively. An anomaly, however, was observed in Tampoi (RM287) where its capital growth value was only 0.6% - this could be explained by Tampoi being an industrial area, hence it is not very desirable among homebuyers.

DISCLAIMER: The source of data is from the Valuation and Property Services Department (JPPH) which officially records a property transaction once the stamp duty for the Sales and Purchase agreement is paid while the source of listing & leads data is from agents’ listings listed at iProperty.com. Analytics are based on the data available at the date of publication and may be subject to revision as and when more data becomes available.

Are you looking for data insights for better business decisions? Drop an email to [email protected] and let us help you.

26 27 SUBANG JAYA: An evergreen residential hotspot

28 29 SPECIAL FOCUS

Subang Jaya still a homebuyer’s hub

Latest transaction activities (April 2016 - March 2017) might record moderate volumes but residential demand on the ground remains high. - REENA KAUR BHATT

HIGHLIGHTS

Transaction activity for terrace homes was somewhat muted, with only garnering more than 100 sales.

The top 5 transacted areas for serviced residences, with the exception of USJ One, recorded commendable asking rental yield figures of more than 4%.

Source: iPropertyiQ.com

Terrace homes within the TOTAL SALES = 1,165 RM670,000-RM860,000 price range and serviced apartments priced between RM370,000- RM460,000 were most popular iPropertyiQ.com data showed that terrace homes appeared as the most transacted among home buyers. product in the landed home category in Subang Jaya while serviced residence was the preferred product among purchasers of high-rise residential units. For analytical purposes, we will focus on these two products, of which key figures were extracted for the top 5 performing areas within the Subang Jaya precinct, for terrace homes and serviced apartments, respectively.

28 29 GUIDE

The period of evaluation Terrace homes comprise Serviced residences bear The data used to calculate is from April 2016 to of single, double and triple commercial titles and asking median rent are March 2017. storey houses. unit prices vary quite a obtained from iProperty. bit depending on size com Malaysia’s property and location - anywhere listing database. Only from RM240,000 to monthly rents within the RM730,000. evaluation period are used to determine the median – this final figure is then used to calculate asking rental yields in each area.

TERRACE HOMES

Key figures for top 5 areas

Total Median PSF Y-O-Y Capital Y-O-Y transaction Asking median rent Asking rental yield AREA transactions (RM) growth (%) growth (%) (RM) (%)

Putra Heights 104 489 -7.8 19.5 1,700 2.4 USJ 3 57 535 -4.5 9.6 1,400 2.5 SS 19 43 632 1.8 13.2 1,500 4.0 USJ 11 40 558 -2.9 17.6 1,700 2.6 USJ 2 40 534 -6.3 37.9 1,600 2.8

Source: iPropertyiQ.com

neighbourhood offers smaller and point for discerning home buyers, compact terrace homes (720 sq ft) families especially, explains Jackie. with affordable entry prices. Even with Landed homes in Putra Heights, on the the highest median price per sq ft of other hand, are not only considerably RM632, a typical landed home in SS19 newer but bear the lowest PSF prices will only cost buyers RM455,040. too, making it very appealing for first- There are various commercial time homeowners and those looking components within a 5km radius too, to upgrade from high-rise residential these include – Sunway University, units. Among the top 5 transacted areas, , Subang Jaya Medical USJ 2 is a favourite among investors only SS19 provided positive capital Centre, Subang Ria Recreational Park – the properties there are usually appreciation (1.8%). According to as well as transportation links such as tenanted by students as Segi College Jackie Low, Head of Sale Division, Subang Jaya KTM and the SS18 LRT is within walking distance. Da-Men and Reapfield Properties (S.J) Sdn Bhd, station. Summit Shopping Mall are also located the double-storey homes in SS19 Meanwhile, USJ 11 & 3 are gated and in the vicinity, further adding to the are very attractive to buyers as the guarded communities, a unique selling USJ 2’s appeal.

30 31 SPECIAL FOCUS

What were people buying?

Preferred Built-Up Sizes (Sq Ft) Preferred Price Ranges (RM)

2.0% 0.5% 0.2% 4.3% 6.7% 4.2% 3.5% 5.2%

26.1% 23.0% 25.1% 37.6%

30.9% 29.3%

501-750 751-1000 <180k 370k-480k 1001-1250 1251-1500 180k-230k 480k-670k 1501-2000 2001-2500 230k-290k 670k-860k 2501-3000 290k-370k >860k

Source: iPropertyiQ.com

Jackie comments that the bulk of home buyers prefer to purchase within the 1,000 to 1,500 sq ft category as most landed home purchasers in Subang Jaya are young couples planning to start a family or families with young children. The homes within this size specs typically range between RM650,000 to RM850,000 – most of these households have dual-income earners.

Da-Men and Summit Shopping Mall adds to the appeal of USJ 2.

All images are courtesey of Kayla Michael.

30 31 SERVICED RESIDENCES

Key figures for top 5 areas

Total Median PSF Y-O-Y Capital Y-O-Y transaction Asking median rent Asking rental yield AREA transactions (RM) growth (%) growth (%) (RM) (%)

Main Place Residence 51 618 3.4 -56.8 1,600 4.5 Casa Subang 28 399 5.3 -3.4 1,600 5.1 USJ One 19 702 - - 1,500 3.9 Rhythm Avenue 19 481 -0.6 -32.1 1,800 6.8 Impian Meridian 17 522 -4.5 13.3 1,900 4.4

Source: iPropertyiQ.com

The residential schemes listed above project, Casa Subang, which is situated numerous unit sizes, going up all the are popular as they are all located 5 minutes away from the USJ 7 LRT, way to 3,056 sq ft for the penthouses. within walking distance to an LRT neighbours the following hotspots – Rhythm Avenue is part of an station, says Jackie. The extension of Giant Hypermart, International Medical integrated development, i.e the 19 the Kelana Jaya LRT Line saw Subang College and Summit USJ shopping USJ City Mall. There are three towers Jaya receiving 10 new stations, of mall. of serviced residences located above which operations commenced in June USJ One is another residential the mall, with units ranging from 456 2016. development located nearby the sq ft to 1,308 sq ft. Rhythm Avenue’s Main Place Residence is located USJ 7 LRT station. Situated along residents only need to walk 500 metres just 350 metres away from the USJ 21 Persiaran Subang Permai, this project to reach the Wawasan LRT station. LRT station. Also, the development is 600 metres away from the South Meanwhile, Impian Meridian which offers a variety of built-up sizes from Quay BRT station. With unit offerings is practically next to Casa Subang, 615 sq ft to 1,272 sq ft, catering to a starting from 650 sq ft, the entry prices enjoy the same conveniences and wide range of purchasers. The second hover around RM450,000. There are transportation linkages as the latter.

What were people buying?

Preferred Built-Up Sizes (Sq Ft) Preferred Price Ranges (RM) 1.5% 2.5% 5.0% 6.4% 6.9%

7.9% 6.9% 36.6% 40.6% 7.9% 12.9% 11.9%

24.8% 25.7%

401-500 501-750 751-1000 <240k 240k-280k 280k-320k 320k-370k

1001-1250 1251-1500 1501-2000 370k-460k 460k-590k 590k-730k >730k

Source: iPropertyiQ.com

32 33 SPECIAL FOCUS 150K

Total population Advice for home buyers & investors 2010 Census

1. When purchasing high-rise residential units, check beforehand the land status of the development, whether it bears a commercial or residential title. Assessment rates, quit rent, services charges and monthly utility bills will cost more for commercial titles as commercial rates will apply for these properties. 2. Home buyers must ascertain the following before purchasing – monthly maintenance fees, building density and quality of facility upkeep. 3. Prospective buyers must assess their loan entitlement before hunting for a property- calculate your Debt-to Service Ratio and the estimated monthly instalment you will be able to afford. 1.56% 4. Only deal with registered real estate negotiators – there are many bogus realtors out there who will do away with your

money and time. Estimated annual growth 2010 - 2016

What were potential purchasers searching for? Subang Jaya's current demographic 150K

Total population 2010 Census 171.4K Estimated total population (2016)

1.56%

Estimated annual growth 3.6 2010 - 2016 Average household size (2010 Census) 48.3k Households (2016)

Source: iPropertyiQ.com

171.4K Estimated total population (2016)

supporting components. Buyers who high-rise units meanwhile will be driven Purchasing trend moving forwards Jackie believes that the demand for can qualify for home loans will take by young working professionals and landed property in Subang Jaya will advantage of the slow market and snap investors looking to capitalise on the be sustainable as the mature township up available good deals. Demand for student rental market. is a well-developed one with various 3.6 Average household size DISCLAIMER: The source of Sale data is from the Valuation and Property Services Department (JPPH) which(2010 officially Census) records a property transaction once the stamp duty for the Sales and Purchase Agreement is paid while the source of rent data is from agents’ listings listed at iProperty.com. Analytics are based on the data available at the date of publication and may be subject to revision as and when more data becomes available. 48.3k Households 32 (2016) 33 A resident’s insight

houses there were completed and township including New Klang Valley the keys were handed over to buyers Expressway (NKVE), North-South just before the 1998 financial crisis. Expressway Central Link (ELITE), Many who purchased into Putra Damansara–Puchong Expressway Heights were unable to service their (LDP), KESAS and New Pantai monthly instalments, thus resulting in Expressway (NPE). many properties being foreclosed and On the downside, traffic in SJ can auctioned off. These encumbered units get pretty congested during peak remained empty for quite some time. hours. Also, the construction of new Jayendran Palachandran, a business That is why from this period all the link roads has further compounded owner who has been living in Subang way up to 2007, Putra Heights was the issue, as commuters now have Jaya (SJ) for the past 40 years shares really a ghost town. There weren’t any the option to bypass tolls on main some exciting input on key trends supporting commercial components highways and drive through SJ instead and how the residential area has too such as shops, banks and clinics to get to other main destinations in the transformed over the years. before this – a friend of mine who Klang Valley.” moved to Putra Heights some 12 years A brief overview ago, promptly moved back to SJ after Capital appreciation over the years “Today, Subang Jaya comprises a a year as the place was very lonely. “In 2009, the entire SJ experienced a larger area of the original SJ township, People living there couldn’t even shop property boom. Many old-timers who UEP Subang Jaya (USJ) and Putra for groceries and had to come into SJ have purchased into SJ a few decades Heights. SJ started off with a cluster to purchase basic necessities. back have settled their mortgages of houses built in between Federal This problem has been rectified as and by then their children have flown Highway and there are now numerous conveniences the coop, a huge number of these (KESAS) in the late 1970s. This area and schools within the vicinity. The older couples and retirees sold off which now consists of SS 12 to SS 19, is township also owes its renewed life their homes and moved into smaller spread across central SJ. to the new extension of the Kelana units in more conducive and greener Upon completion of SJ, its master Jaya LRT line which terminates in neighbourhoods. As the availability of developer, Sime Darby, then known as Putra Heights. The Putra Heights LRT schools and commercial components Sime UEP Properties Berhad began station is also integrated with the Sri were no longer of importance, many planning for the development of USJ, a Petaling LRT Line. There are quite a more affluent residential area located few residential developments being in the southern part of SJ. The way USJ constructed on the fringes of Putra 1 Putra Heights now has its very own LRT station. 2 Putra Heights residents currently have easy was developed was quite unique, the Heights as well, all which are riding on access to conveniences and amenities. various precincts were not developed the Putra Heights branding.” according to sequence - The official development of SJ first begun with Rapid infrastructure development USJ 2, 3, 4 and 5 in the early 1990s. “When I first moved to SJ in the late The developer had originally 1970s, I was renting a terrace home in parcelled off the land into 21 precincts USJ 12. As I had to commute daily to (USJs), but the area has since Shah Alam for work, I had to use this expanded into 27 precincts, where old estate road which was fringed by development spilt over to the Puchong rubber trees and oil palm plantations. area. These precincts run from KESAS The same single-lane road is now the and move southwards all the way 6-lane Hicom Highway. to the Shah-Alam Puchong (Hicom) Infrastructure development in SJ Highway. has especially burgeoned in the past At the very end of these precincts 10 years. One can even call it a transit is the Putra Heights township, a hub, a SJ resident can easily travel small residential area situated on the to the city centre or to any part of First constructed southern tip of SJ. Greater Klang Valley with the slew 1 in the late 1990s, the bulk of the of expressways fanning out from the

34 35 SPECIAL FOCUS

movements in home prices too. Based on my observation, quite a few families are sharing a home as they are unable to pay the rent themselves. Average rents for terrace homes in most precincts, including my area (USJ 11) is roughly RM2,000 per month – this sum is actually out of reach of many young couples, government servants 2 and fresh graduates. That is why we are seeing a growing number of households sharing the rent for one were willing to migrate to further From 2015, the rental demand for the home. So, previously where you might away but more peaceful boroughs surrounding terrace homes spiked – have 3 families taking up three homes, such as , Setia Ecopark many investors have partitioned off these same people are now housed and . This supply shift these homes into smaller units to be within 1 unit.” resulted in an influx of sub-sale rented out to students, where each properties in SJ, which was then taken room even has its individual water and Tips for homebuyers up by younger families and couples electrical metres. “The current demographic is still a looking to start a family. Demand for space in this area is so balance between baby boomers and To provide an idea of capital great that even the driveways of the the millennials. Even though quite a few appreciation during this boom period homes are being rented out separately older residents have moved out over (post-2009) - my double-storey – office workers who work in the the years, many have remained in the terrace home, an intermediate lot with area pay monthly rent in the range of township as they are comfortable and a built-up of roughly 2,000 sq ft in RM200-RM250 to park their cars in familiar with the neighbourhood, and USJ 11 was averaging at RM450,000- these spaces.” their friends and the everyday localities RM500,000. By the beginning of which they frequent such as favourite 2011, the same house was transacting Why then was negative capital restaurants, clinics and hangout spots between RM700,000 - RM800,000 appreciation recorded in certain areas? are all within easy reach. Nevertheless, and 2 years later in 2013, its market “This negative trend was observed in homes in USJ 1 have lost some of its value had already hit the RM1 million certain precincts as there were changes lustre, as a new neighbouring road mark. Take note that corner lots will in the neighbourhood’s landscape. For which opens up to KESAS has resulted command an even higher selling price. instance, some of the houses in USJ in increased traffic, thus reducing the Admittedly, capital appreciation has 16 experienced a slight deterioration area’s desirability. petered off in the few recent years in in prices as a very large low-scheme Meanwhile, the higher-end light of the economic slowdown. There project was launched in the area, which neighbourhoods, USJ 5,11 and 16 still have not been much capital gains in brought average values down. Besides garner good demand among those the past year, but on the upside, prices that, some neighbourhoods experienced with good purchasing power. There have held really well. It is promising to an influx of residents who moved in are quite a few empty terrace homes note that residential prices have not from and other fringe towns, scattered throughout most of the devalued across the board.” making these areas less desirable to USJs. It is not that there is no demand, other locals. Also, there were quite a few the issue here is many aspiring Changing trends owners, especially extended families purchasers are unable to secure a “The many educational institutions in who modified their homes by knocking home loan. A 1,800 sq ft terrace home SJ, particularly in the SS15 commercial down the walls between two homes. will roughly cost between RM700,000- district, including Taylor’s University, This resulted in increased density in the RM850,000, depending on the Sunway University and Metropolitan area, further putting a dampener on the location. Eligible aspiring purchasers College have greatly contributed to area’s appeal. who are looking for a good deal should the demand for residential properties The slow growth in income has make their move as it is currently a and its consequent price growth. partly contributed to the negative buyers’ market.”

DISCLAIMER: The opinion stated in the article is solely of Jayendran Palachandran and is not in any form an endorsement or recommendation by iProperty.com. Readers are encouraged to seek independent advice prior to making any investments.

34 35 5 stops in Subang Jaya you need to check out on the Kelana Jaya LRT line extension

- KAYLA MICHAEL

The people of Subang Jaya must writer has boldly ventured through the have breathed a sigh of relief when depths of Subang Jaya, with a Touch new stops were added on the Kelana ‘n Go card in one hand and food in her Jaya LRT line extension last year. mind. The line covers a distance of 17.4km, which starts from Kelana Jaya station 1. SS15 and passes through twelve stations, Breakfast is the most important meal ending in Putra Heights. The improved of the day. SS15 definitely hits the spot accessibility, cost savings and relief as there are a wide variety of kopitiam of traffic congestions are definitely places within 1-2 minutes away from plus points when it comes to this the LRT station. Hankering for some LRT line. Besides getting you to your classic roti canai or nasi lemak? There’s destination, what else do these new always a friendly mamak around the stops have to offer? corner to cure your hunger blues. If Travelling by car to Subang is you’re a regular in these parts, you definitely a norm for me. But with would definitely know some of the the added stations stretching across famous cafes and hangout spots various stops in Subang, one has around the area. to wonder; what lies within walking distance from the LRT station? This Nearby Mall: SS15 Courtyard 1 Walking distance: 5 minutes

36 37 SPECIAL FOCUS

2. USJ7 Never again will you face the traffic congestion that is the Persiaran Kewajipan near Kesas highway because this station is within walking distance of shopping malls such as The Summit USJ and Da Men. Besides that, , Giant Hypermarket and Hypermarket are easily accessible via BRT as well! I couldn’t resist stopping by the iconic mall that is The Summit 3. Taipan USJ to reminisce my college days and Taipan has a wide variety of eateries to have lunch at Penang Asam House. that range from Chinese to Western food and even Thai food as well. You Walking distance to malls: 5 – 10 will notice that there seems to be minutes quite a few cafes that have popped up, serving up delicious brunch and pastries for you to feast on!

Walking distance from LRT: 10 - 15 minutes

4. USJ 21 Just within walking distance of this LRT station, you will find shoplots serving up different variety of cuisines ranging from Malay, Thai and even Western food. Shopping malls like Main Place and if you’re really up for the walk, One City is just within walking distance.

Walking distance to Malls: Main Place (5 minutes) One City (10 – 15 minutes)

5. Putra Heights It was certainly an adventure Stepping down from this station, you exploring the LRT stops around Subang will get an instant neighbourhood vibe. Jaya and this seems to be a more The first thing you see within walking convenient mode of transportation for distance is a restaurant serving up my next adventures as well! The LRT is delicious seafood delights! Since it’s quick, efficient and definitely the better tea time, I swung by at one of the more way to travel if you’re not keen on exciting joints around the area - Moon’s facing the traffic. Kitchen.

36 37 Gen-Ys favourite malls in Subang Jaya The answers might not come as a surprise!

- KAYLA MICHAEL

TAMARA JAYNE ‘atas’ or high-end kind of malls where THEVANESH RAO Writer and Editorial Services Digital you can’t afford anything thanks to Radio Announcer/Host (26 years old) Lead of Leaderonomics (23 years old) its section such as Asian Avenue and college friendly priced food places. Subang Parade because it’s a very Hands down: Sunway Pyramid. I Although it’s extremely packed convenient family mall. Not much spent a lot of my school years hanging with people, it helps that they on shopping but more to dining and out at ‘Pyramid’ with my friends implemented the car park system relaxing which is my kind of thing and because it was in a convenient location which made life a lot simpler when parking is easily available unlike many and had all the shops I loved browsing it came to finding the green light to other malls in Subang. for food and clothes. It has a good park at. balance of not being one of those too

38 39 SPECIAL FOCUS

JESSICA MIA DIAS JAZREENA RAFIQ AMIRUL AIMAN Creative Designer of Maxis Social Media Executive of Fisherman Communications Executive of (28 years old) Integrated Sdn Bhd (27 years old) Dinarshad Studio (29 years old)

My favourite mall in Subang My favourite mall would be Subang To be honest there are a lot of good Jaya would have to be Sunway Parade. I like malls that are convenient malls in Subang Jaya but my favourite Pyramid. Three main reasons. First and have everything I need in one stop. mall has to be Sunway Pyramid. It’s would be variety. Sunway Pyramid Subang Parade has a movie theatre, because you could literally do anything has everything you need under grocery shop as well as a wide variety there! one roof. From groceries, clothes, of eateries. Have some fun with your family & entertainment to good food. Second Also, I’ve never had any issues with friends by going ice skating or hitting would be safety. looking for parking in Subang Parade, the Sunway Lagoon, bring your date to I feel safe parking in Sunway so this is definitely a plus point for the movies or eat at any wide selection Pyramid because there are always those who drive. of restaurants available or even check guards present to walk you to your out the interesting events at the car and who are on constant patrol. convention centre! Third would be sentimental values. Sunway Pyramid holds tons of good memories for me growing up. First parent-less outing with friends, first date and birthdays. You name it, Sunway Pyramid was where it was at.

So there you have it folks! The Gen-Ys have spoken and the verdict is: Sunway Pyramid. Besides being the first choice for F&B and retail, Gen-Ys find that the ease that comes with parking facilities definitely makes this mall the place to be.

38 39 London properties ripe for the picking

The fall in Pound post-Brexit provides a unique window of opportunity for Malaysian purchasers.

Residential properties in and around What does it mean for foreign buyers? London are evergreen investments On the plus side, this uncertainty - Plenty of economic and political breeds opportunities for foreign fluctuations have come and gone investors – the UK Pound has over the years, but property values in significantly weakened against most this global top financial centre have major currencies post-Brexit. For remained solid, says Dominic Heaton- instance, in January 2016, the Pound Watson. In an exclusive interview, was fetching an average of RM6.30, Dominic tells REENA KAUR BHATT the current figure (as of 9 October why Malaysian investors should strike 2017) is 12% lower at RM5.54. During DOMINIC HEATON-WATSON while the iron is hot. uncertain times, developers are keen Senior Manager, to maintain sales figures and quite a International Project How has Brexit affected the local few are offering attractive discounts Marketing-Residential, market? and promotions. This is a ‘once in a Knight Frank Malaysia Admittedly, there was some degree blue moon’ opportunity, so Malaysian of caution with the Brexit result but buyers would want to take advantage in reality, it has been the increase of these new deal margins. Moreover, in stamp duty (on second homes) Brexit spells a new dawn for foreign that has had more of an impact on investment; it will prompt the UK to the residential market. One could be more open and trade-friendly with argue that perhaps the growth rate global partners. seen in London in recent years had In fact, 2017 has seen a number of become somewhat unsustainable, high profile investments, all which so a correction in the short term demonstrates continuous confidence can be viewed as a positive thing in London: as it encourages prices to return to • Google has taken 365,000 sq ft of normality. Any perceived uncertainty office space, to accommodate 2,000 surrounding Brexit is likely to remain staff 1 A low-density development, Chiswick until further clarity is provided on the • Amazon is set to take 430,000 sq ft Gate offers 78 luxury apartments and 43 Townhouses with 1 Coach House. UK-European Union (EU) relationship. of office space (5,000 staff) (Image courtesy of Knight Frank)

40 41 MARKET WATCH

“Generally, many of the characteristics that make London so attractive to property investors are largely non- reliant on an EU membership – the culture, heritage, transport infrastructure, education, transparent legal system and safe-haven status are all firmly in place.”

for supporting transportation in Zone 3. infrastructure, as locals very much Zone 3’s popularity has grown depend on public transportation. Just tremendously – Not only because of as how properties around the MRT its cheaper price tags; a typical one- stations in the Klang Valley are being bedroom apartment in Zone 3 is much snapped up; Zone 1, 2 and 3 of London closer to the £450,000 mark while its is receiving renewed interest, thanks prime central London counterpart can to the upcoming ‘bigger and better’ sell for £850,000 onwards, but also the Elizabeth railway line. Formerly known upgrading in rail linkages now enables as Crossrail line, the new line measuring one to commute into the CBD within 23 over 100km long from Reading and minutes. • Facebook will take up 217,000 sq ft Heathrow in the west to Shenfield and Some great examples of residential of office space (circa 2,000 staff) Abbey Wood in the east will see 10 new projects located nearby rail stations • Deutsche Bank and Thompson stations and upgrading of its existing include: Reuters’ to expand their London 30 stations. offices Quite a few Malaysians are seeking • Chiswick Gate in Burlington Take note that these represent out residential properties in Zone 3 Lane, Chiswick (Zone 3) 14,000 new jobs by end-2017 from or west London, which can command A project by Berkeley West London, just 5 employers. Further good news a notably higher rental yield than Chiswick Gate is a gated and guarded - Late last year, Apple announced that the prime central Zone 1 due to the development featuring beautifully it will be moving its UK headquarters former’s considerably lower entry landscaped gardens, concierge to Malaysia-owned Battersea Power point. As a very general guide, prices services, gym and high-end finishes. Station, taking up 500,000 sq ft of in Zone 1 can average approximately Buyers have the choice of Georgian- office space. These examples testify £2,000 PSF, followed by £1,200 – inspired townhouses and apartments, the growing number of ‘knowledge £1,500 PSF in Zone 2 and £700 - £900 with prices starting from roughly and tech’ workers migrating into the London market, all whom could be future tenants. The current severe shortage of housing in London plays to the advantage of foreign investors too - this imbalance will take a significant time to correct and is a solid fundamental which underpins sustainable house price growth over the medium term.

What are the London hotspots Malaysian investors are looking at?

When property hunting in London, 1 most investors would look out

40 41 Within walking distance of the • Lincoln Square in Portugal Street, Turnham Green underground station, London (Zone 1) Chiswick Gate is also 10 minutes Brought by LODHA Group, Lincoln away from Heathrow Airport and Square is located adjacent to the the Thames River, while the Chiswick London School of Economics High Street houses independent (LSE), The Royal Courts of Justice boutiques, antique shops, and just 5 minutes from Covent delicatessens, artisan coffee bars and Garden. Residents will find prime renowned restaurants. retail options, office space and various entertainments right at their • Jigsaw in Singapore Road, West doorstep. Connectivity is a major Ealing (Zone 3) selling point, with 3 tube stations Located within walking distance within walking distance. Offerings to the West Ealing station (with include studio units, apartments connecting link bridge on site), this and penthouses – prices begin from development by FABRICA and Rydon roughly £1,240,000. offers affordable entry prices and low Other exciting residential tidbits service charges – prices start from include Palace View in Lambeth approximately £420,000. Bridge, Zone 1 (From app. £1,290,000) and Lillie Square in Earl’s Court, Zone 2 (From app. £788,000).

3

Many Malaysians send their children to the UK to pursue their tertiary studies - Is it the opportune time for Malaysian parents to purchase properties in London/the UK? Knight Frank foresee the UK’s world- class higher education to remain a strong driver for Malaysian buyers and investors. This demand is supported by the UK’s broad-based economy; think finance, technology, manufacturing, tourism, IT, construction, retail, etc. There is never a bad time to buy properties for “own use”. Of course, many savvy Malaysian investors 2 combine their UK investment purchase with future own use - I see a lot of our

42 43 MARKET WATCH

“Many savvy Malaysian investors combine their UK investment purchase with future own use - I see a lot of our clients in KL forward planning their children’s education options.”

clients in KL forward planning their Frank’s Malaysian clients feel most children’s education options. The comfortable with 1 or 2 bedroom lion share of transactions occur in apartments as the purchase price London, but secondary cities such as remains reasonable, the rental level is Birmingham and Manchester are now affordable for incoming tenants, and hot on the heels of London, receiving the sizing allows for a wider tenant increasing levels of interest from pool to be reached. discerning mamas and papas. • Secure advice from professional Besides transport connections, property advisors who can offer a property pricing is equally important, global reach with local expertise – and there are many hidden gems ripe ones that can take you through the for the picking. A prime example - whole process from start to finish. 1 bedroom apartments at The Bank, • Think about after sales services such Broad Street in Birmingham and as lettings and management, finance, positioned next to Brindley Place, furnishings, taxation and operating with prices from a mere £187,000. costs such as service charge. Birmingham is a vibrant city and has • UK property exhibitions are hosted been ranked No.1 for Quality of Life on a regular basis in Kuala Lumpur outside of London and its hotspot – What Knight Frank does is to status is confirmed by being the UK’s bring in the UK developers who are “Second City”. keen to provide Malaysian investors

2 According to Hamptons’ Residential with a ‘display gallery’ experience Research Report published in March What are your tips for Malaysian over the course of an exhibition 2016, average house price growth investors? over the last 5 years has increased weekend, before supplementing this by 41% on properties within 500 Besides considering catalysts with private one-on-one meetings metres of West Ealing station - a very for growth such as infrastructure during and after an exhibition. promising trend for Jigsaw homes. 3 Residential properties situated nearby improvements and upcoming These exhibitions are also attended the upcoming Elizabeth rail line will developments, investors should pay by lawyers, developers, UK staff generate robust tenant demand. heed to: and qualified experts – all on hand • Facilities – The level of amenities specifically to help even the most required by a purchaser can vary. inexperienced of investors settle any Pure investors may prefer fewer questions, concerns or requests in amenities to keep the running costs their property requirement. low, while owner-occupiers may seek additional facilities for their For further information on UK enjoyment. properties, feel free to contact • Sizing trends – Again, each buyer Knight Frank at : will have their own reason for E: [email protected] purchasing. The majority of Knight M: +6010 4389 169

DISCLAIMER: The opinion stated in the article is solely of Dominic Heaton-Watson and is not in any form an endorsement or recommendation by iProperty.com. Readers are encouraged to seek independent advice prior to making any investments.

42 43 Gen-Y pilot raking in RM15k from homestay business Zaini Zainal is turning his real estate passion into profits – a good month scores him a cool RM15k.

- REENA KAUR BHATT

Five years ago, the Royal Malaysian me that I was actually sitting on a cash 80% occupancy, an achievable figure Air Force (RMAF) pilot ventured into cow and not realising my properties’ considering the unit’s prime location, real estate investing and have since full potential. I had this unit in Vista he would make about RM6,000 in amassed an impressive rental property Alam in Section 13, Shah Alam for a month. Even at a very prudent portfolio. Zaini’s savvy investing – he which I was obtaining a monthly rent estimation of 50% occupancy rate; only purchased promising properties of RM1,600. I thought I was doing Zaini will obtain a monthly income of located close to education institutions, really well, considering the current RM3,750, an amount which clearly hospitals or training centres; all market slowdown, many landlords are surpasses the conventional rental which will guarantee continuous and unable secure tenants. Imagine my model. sustainable tenant demand ensured surprise when my friend told me that I On how he got started, Zaini said, that he never had to worry about his could make triple that amount should “I gave my unit a nice sprucing up investments. Taking things further, 30- I rent out my property as a homestay beforehand – I have always loved ID. In year old Zaini has now turned his love instead!,” shared Zaini. fact, I have been dabbling in it part- for real estate and interior design (ID) Zaini promptly took a leaf out of his time since a year ago. So, I applied into a profitable homestay business friend’s book and listed his unit on a what I have picked up from my mentor called HomestayKite. few accommodation rental websites and past projects to whip my place into including Airbnb, Traveloka, and an Instagram-worthy abode.” Taking the road less travelled by Booking.com. By leasing it out on Zaini had a wake-up call in April this a daily basis, Zaini is able to charge 1-3 Zaini finds great joy in transforming his rental year - “A fellow investor enlightened RM250 per night for his apartment. At units through interior design.

1 2 3

44 45 POINTS OF INTEREST

4-5 Guests are able to utilize hotel-worthy facilities at the i-City development. 6-9 HomestayKite is seeing good business, with numerous bookings from families, students and groups of friends.

4 5

Home away from home What takes the cake, however, is that His efforts and attention to detail paid these homestay units are more than off – the Vista Alam apartment ‘sold’ just a place to rest for the night – it like hot cakes. Bookings poured in, provides that cosiness that is somehow 6 from students attending a convocation lacking in a hotel room. “Most of my (UITM is located nearby) to business tenants’ feedback is that they love how travellers and wedding guests (Shah comfortable and homely it is – they Alam Convention Centre is just 600 don’t feel like they are away from home metres away) as well as families who at all,” quips Zaini. were in town for a weekend getaway. “First of all, guests love the value for Growing the homestay pie money – for RM250 a night, you get a Bolstered by the great response 7 spacious 2-bedroom apartment; cosy he received for his Vista Alam unit, enough for 6 people, a comfortable Zaini then proceeded to replicate living area and a fully-equipped the homestay business for his other kitchen. They are free to utilize the residential unit in i-City, Sections 7. condominium’s facilities as well – the “Short-term rental accommodations pool, gym and sauna are all at their or homestay units are in demand in disposal. The convenience of having a Shah Alam – there is always a friend’s kitchen and space for the whole family or relative’s wedding, a convocation to 8 is especially appealing to locals and attend or a seminar conducted at the those with children. Comparatively, convention centre nearby. Bookings should a family spend the night at kept pouring in, regardless whether it a hotel, they will have to fork out at was the school holidays or a weekday least RM500 for 2 bedrooms, each – we were booked solid even during measuring a measly 250-300 sq ft,” the supposed ‘off-peak season’ in explained Zaini. June,” shared Zaini. Clearly, business was good, so Zaini decided to take his 9 homestay venture to the next level.

44 45 “I roped in a few other investor Recipes for success The secret to maintaining customer friends, who had empty apartment With 10 rental properties under his satisfaction, however, is that Zaini looks units themselves within the i-City belt, Zaini has had loads of experience after his staff well – he provides free development. I shared on how I can in dealing with tenants and in playing accommodation for his operation and help them make good money using the landlord. However, Zaini owes his cleaning crew. “Dealing with tenants homestay model and they were sold. homestay success to his team – from and looking after the units’ cleanliness That was how HomestayKite was born his marketing manager who manages is a very taxing and time-consuming – I built a proper website overnight, the company’s FB page and who is job. So, the least I could do is to ensure created an FB page and got a team a whiz with Google Ads and SEO to that my staff do not have to worry together to handle business operations, his operation staff who sees through about commute or rent,” reasons Zaini. marketing, tenant management as well guest check-ins and unit maintenance This strategy has paid off in spades – as cleaning and maintenance. Today, as well as his HR manager who looks guests are over the moon with the level HomestayKite has 10 properties under after customer service and tenant of customer engagement and service its name – and all units are seeing brisk management; everyone juggles their they receive. “We have numerous business. weight beautifully. repeat customers and most of our A few months back, I had this An outsider would assume that guests will recommend us to their Pakistani customer, a business owner Zaini runs a tight ship; a scroll through family and friends. These guests even who booked a unit for the night while HomestayKite’s FB page and business share their experiences and pictures he was in town. He was so impressed site revealed that guests have so from their stay on their social media, with our services that he booked a far provided glowing reviews and and this has helped us secure bookings couple of units for two months straight commendations for the incredible for one-day events like birthday parties for his staff to stay in while they were service. and even a local movie shoot,” Zaini attending a short course here in added. Malaysia,” added Zaini. Business might be good, but one can never rest on his laurels though, Zaini cautions. He and his team always have their ear on the ground and continuously keep tabs on what is going on in the local market. “We have different pricing strategies for different seasons – for instance, we offer more discounts during convocation period or weekend bundle deals during school holidays. If there is a convocation that weekend, we will spend more marketing money to push for online advertisements on Google and 10 Facebook,” he explains.

Future plans “We are looking to expand the number of rentals under Homestay Kite to 20 units by next year. Also, we might be venturing into the KLCC market as homestay demand is picking up there too”, concludes Zaini.

10-11 Zaini hosts regular pow-wows with his 11 HomestayKite team.

46 PB

Building defects and rights of buyers

We’ve heard it all. Horror stories of hopeful property investors who had their dreams to become home owners crushed due to delayed projects or even worse, receiving a home that is far from the rosy promises made by developers to entice buyers. As a homeowner, it is pertinent to be aware of your rights and more importantly to know what are the types of defects and negligence that the developer should be held responsible for and what they simply shouldn’t be.

- MIRA SOYZA

Timely delivery the entitlement to claim for Liquidated One of the main duties of the housing Ascertained Damages (LAD) for developer under the statutory sale the delay in completion comes into and purchase agreement (SPA) is effect. It is a statutory remedy to to complete the construction of the compensate buyers for the developer’s property on time – 24 months or failure in fulfilling his obligation under landed properties and 36 months the agreement to hand over vacant for stratified properties – and if the possession on the specified date. delivery fails within this period, the And in the case of late delivery, the developer must compensate the house compensation is calculated at 10% per buyers by paying liquidated damages annum on the purchase price. Delay of for late delivery. any form leads to losses for the other In the event of late delivery, party, thus, the same applies if the Schedule G and H of the Housing house buyer is late in making payment Development (Control and Licensing) to the developer. Act 1966 states that provide buyers

DATE OF DATE OF NO ACTS GAZETTE ENFORCEMENT Housing Development (Control and 1 9 February 2012 1 June 2015 Licensing) (Amendment) Act 2012 2 Strata Titles (Amendments Act 2013) 7 February 2013 1 June 2015 3 Strata Management Act 8 February 2013 1 June 2015

48 49 POINTS OF INTEREST

With the enforcement of the above Acts, the corresponding Regulations have also been gazetted:

DATE OF DATE OF NO ACTS GAZETTE ENFORCEMENT Housing Development (Control 1 and Licensing) (Amendment) 1 June 2015 1 July 2015 Regulations 2015 Housing Development (Housing 2 Development Account) 1 June 2015 2 June 2015 (Amendment) Regulations 2015 Strata Management (Maintenance 1 June 2015 2 June 2015 Tribunal) Regulations 2015 3 Strata Management (Strata Management Tribunal) Regulations 1 June 2015 1 July 2015 2015

Private rights vs public interest A private right is one that a private citizen can vindicate in court, while public rights, belong to citizens but are vested in and vindicated by political entities not by private citizens. Acting in the public interest is a concept that is fundamental to a representative democratic system of government and to good public administration. However, this commonly used concept is also, in practice, particularly complex. “For example, you can claim LAD for RM 100, 000, and according to the letter you are only entitled to claim 50%. Can the purchaser sign a letter to waive this balance? No, because being a public interest issue, the waiver he/she signed is not valid,” explains Pretam.

…But there’s a loophole stipulated in clause 27, which means Citing the case of Golden Quantum that that the developer must have Acres Sdn Bhd vs. Management delayed or abandoned the completion Services Sdn Bhd [2014] 10 CLJ, of the property in total for it to apply. Dato’ Pretam Singh, a partner at This clause doesn’t provide a remedy Pretam Singh, Nor & Co, reveals that in a situation where the developer, ie, if a developer does not complete the appellant had completed the works the works according to contractual but had done so in a shoddy manner specifications, but complied with the that it failed to meet the contractual provisions of clause 27 they will not be obligations. liable for paying the homebuyer LAD. “In this case, the claims for damages Clause 26(2) provided specifically that arose from the appellant’s failure in if the appellant is only liable to pay the constructing the building in accordance homebuyer LAD if they fail to deliver with contractual specifications. The vacant possession in the manner remedy available to the respondents

48 49 was the cost of effecting such repairs descriptions and plans must also have to meet contractual specifications as been accepted and approved by the well as consequential loss arising for purchaser, therefore no changes or the reasonable time during which the deviations from the original plan shall respondents had suffered a loss of use be made without the writing consent of of the villas,” explains Pretam. the Purchaser unless the changes are “The respondent was required to required by the appropriate authority. mitigate its losses by ensuring that “All written agreements, any the repairs were effected within a variation or termination of the same reasonable time. They were entitled must be expressed in written form and to be compensated on the basis of an in very clear language,” says Pretam. objective and reasonable estimate of And in the event that changes in the the time taken to effect the requisite description involve the substitution works. This was not equivalent or use of cheaper materials, or the to a claim for LAD, although the omission of certain features originally quantum agreed upon may well be a agreed to be carried out by the vendor, reasonable estimate for the purposes the purchaser will not be liable for of determining the quantum per day of the cost of such changes and shall be delay.” entitled to a corresponding reduction in the purchase price herein or to What you read, is what you get damages, as the case may be. This Pretam stresses that it is the means that any changes allowed or responsibility of the developer to given the exception are those that ensure that the said Parcel together are related to policy considerations in with all the common properties are relation to planning and development constructed in accordance with the orders, not amendments that are made description set out in the Fourth by the engineer and architect. Any Schedule and with the plans approved other changes require the purchaser’s by the appropriate authority. The same written consent to amend the SPA.

TAN TIEN SENG & Anor v.GROBINA RESORTS SDN BHD (NO 2) [2005] 7 CLJ 70

Clause 31(b) provides as follows: “Appropriate Authority” means any authority for the time being authorised under any written law in force in West Malaysia to approve buildings plans, subdivision of land, subdivision of building, the issue of documents of title and to enforce any other laws related thereto. In my view, the architect or structural engineer employed by the defendant could not come within the scope of cl. 31(b). LOW HOP BING J

50 51 POINTS OF INTEREST

“I’ve had a case where the developer “There was another case on claimed to have water features during amendment where the original drawing the launch. At the time of the launch included three window panes but the landscape plans were never drawn the architect decided to put in an out, and once the plan was submitted, extra window pane. Because it was the inclusion of the water features did not written in the agreement the not meet the approval of majlis as it purchasers didn’t have to pay for it. The was situated next to a playground. bottom line is, once the agreement has 78 purchasers filed a lawsuit against been signed, no changes shall be made the developer for non-completion of without consent.” common property,” he continues.

Extension on completion of projects

REGULATION 11 HOUSING DEVELOPMENT (CONTROL AND LICENSING)REGULATIONS 1989

(3) Where the controller is satisfied that owing to special circumstances or hardship or necessity compliance with any of the provisions in the contract of sale is impracticable or necessary, he may, by a certificate in writing, waive or modify such provisions:

Provided that no such waiver or modification shall be approved if such application is made after the expiry of the time stipulated for the handing over of vacant possession under the contract of sale or after the validity of any extension of time, if any, granted by the Controller.

Conclusion the purchasers, the BHL construction Late delivery and unsatisfactory case shows that the purchasers can finishing are only some of the issues appeal to quash the minister’s order. purchasers face when it comes to There are opportunists out there completed projects. Under certain who sit on their case for as long as special circumstances and on possible before taking it to court, just legitimate reasons, a developer can be to milk the LAD. Pretam reminds the granted an extension of time to deliver public that as purchasers, we have vacant possession by the Ministry of a duty to mitigate losses in the right Housing. While this may seem unfair to manner.

50 51

COFFEE WITH CHARLES

Growing a township Charles Tan shares his insights on homebuyer’s expectations, a township’s potential and what makes it so attractive.

Expectations Making townships attractive Potential We all have our favourite townships There is not much to discuss when it Convey to homebuyers the potential and many would refuse to move out comes to mature townships, as these of these new townships. The first few from their old home into a newer one, areas would have welcomed many years will always be the hardest, as regardless how attractive. My good new additions and conveniences the construction of new phases will friend, Miss J managed to convince her over the years. However, purchasers’ still be underway. The developer must husband to move out from their mature expectations for a new settlement explain on the exciting projects and township, as their new abode is just a are something that developers need developments which residents will see 15-minute drive from his office. to be savvy about. There are many over the next 5, 10 or 15 years – malls, Nevertheless, her husband misses potential buyers who consider distance schools, parks, etc. their old borough dreadfully. The as a deal-breaker. When marketing Mature townships will continue to reason could be summed up in a suburban township, the developer appreciate in prices because they one word, familiarity. He misses his must clearly deliver the message could not be expanded further. Newer favourite restaurants and shops, his old that a further distance from the city townships are here to stay and more childhood friends and even his old-time centre does not necessarily mean an are mushrooming every other day. car mechanic. inconvenient daily commute. Affordability is the driving factor for Another good friend, Mr W moved They could play to the advantage homebuyers, besides a better quality from Penang island to the mainland of upgrades in transportation of life. In fact, many of today’s most many years ago. When I asked if he infrastructure and road networks. For liveable townships were once swamps, would move back, his answer was ‘no instance, developers could build a secondary forests or mining fields. way’. Commute wise, he requires an new road linking the township to an Enjoy your township, whichever is your extra 20 minutes daily to reach his expressway or provide transit buses favourite today. office in the Bayan Lepas industrial to the nearest MRT station. Besides area. Nevertheless, his mainland home that, the provision of comprehensive is more than double the size of his conveniences is necessary, developers island home. Despite this, the former have to go beyond the basic necessities was still cheaper than the latter. Size - think kid-friendly playgrounds and and price were his deal clinchers, walking/jogging tracks. commute time is now secondary. Developers could also host free When I then enquired about his events to attract families and friends favourite restaurants, he laughed and to drop by the township for a visit. replied that good food can be found It is during these activities that Charles Tan everywhere. He did not know where developers should show and explain Property blogger and investor the good eating spots were at first, to homebuyers how appealing the Connect with Charles at but over time he has discovered many township is, besides allowing them to https://kopiandproperty.com fantastic eateries nearby his new area. experience what it will be like living there.

PB 53 6 risks you need to know about Airbnb

The promise of high passive profit from short term rentals has made Airbnb a popular choice among property investors with disposable income. However, this short-term holiday lease does not come without its risks.

- MIRA SOYZA

Airbnb first broke into the market years of the website’s launch, Airbnb it has opened up doors to all kinds of with a simple concept: to be an online has shifted the lay of the land of risks and challenges. Even Andrew marketplace that lets people rent out property investment and disrupted the Tan, the founder of Luxury Boutique their properties or spare rooms to hospitality industry. Property investors Accommodation, a company that guests in order to earn money from saw it as an opportunity to monetize professionally manages Airbnb listings short term rentals. It seemed like an their investment in a creative way. who is now a Property Entrepreneur ingenious idea that could garner just Over the years, its clientele has and Venture Capital, has had his enough interest and fade into the grown from budget-conscious fair share of failures and successes background like the likes of K-FIT, but couch surfers to wanderlusts and running the business. “Without a doubt no one expected it to turn into the business travellers. But of course, Airbnb is a very good business model, giant that it is today. Within just six as it gets increasingly popular and however investors should be aware of made plenty of money for its hosts., the risks that come with it,” he says.

54 55 POINTS OF INTEREST

1. The price wars “Another challenge is, if your Due to the unpredictable nature of property is priced higher due to the online businesses, it has also become furnishing you have installed and increasingly difficult to regulate prices. the comfort you offer, it still may not When you run an Airbnb fulltime, it’ll appeal to those who don’t look beyond take about 10 days to break even and the price tag and that supresses the to cover one month’s rental, and the price. But of course, there are those additional of two to three days to who appreciate better facilities and still cover up your utility bills, which means come to us.” you need to rent out your property for a total of 20 to 22 days to make 2. Attracting the wrong crowd profit. The large discrepancy in prices While keeping the price low can be an happens when hosts who do not advantage as you attract the wrong depend on the earning from the Airbnb group of people. There are those rental to make a living undercut the who abuse the property by throwing average market price, which affects rave parties and leave damages and those who run Airbnb full time. stains behind as they leave. When “There are cases where the such neglect happens, even if they are homeowner allows their relative (niece/ willing to pay for the cost of cleaning nephew) to live in his property for and repairs, the time spent to get free. And this relative would lease this it back in shape again will cost you property on Airbnb, and rent it out way the opportunity to rent it out. Not below the price of other owners and if forgetting the noise disturbances they it gets booked over the weekend, he cause to the neighbours and the safety would pack up his luggage and move risk it puts the other homeowners out for the weekend, so this would under. skew the competition,” shares Tan.

54 55 POINTS OF INTEREST

“These people would throw a rave “They rented the property for two party and collect cover charge, and weeks and pay upfront and then the basically disrupt the peace of your residents started noticing that there neighbours. As since drugs are so were different visitors coming in day accessible here, there were cases in day out. They were only discovered where they were doing drugs at the after they have checked out. Believe it party and got raided by the police,” or not, they rented another property says Tan. within the same area.” “They usually look very decent when they check in at about 2 or 3 o’clock. I 4. Scam victim have even had one of my units rented Declaring your information on Airbnb for two months and turned into a will make you vulnerable to scammers. cannabis farm. He seemed decent When a property is being booked and he was willing to pay upfront for online, the bookee gains the full access the whole two months that he was of the owners’ personal information renting. He was only found out when such as contact details, house address neighbours started noticing the stench and etc. Scammer would use this tactic emanating from that unit.” to gain access to the country. Once they reached the immigration, they will 3. Operation of illegal business claim that you are their guarantor by activities providing all of your personal details. With the tighter security employed by “I work closely with joint hotels lately, it has become increasingly management body and I have started 5. False booking and robery difficult for those offering sex-based noticing that there is a breach of These culprits will book your property services to operate their business. The security where some of the operators between 11:30pm and 1 am, around the short-term nature of Airbnb has made would duplicate the access cards for time the banks do their clearance and it the perfect platform to operate such their convenience and allow strangers system maintenance. Once the booking illegal activity. to use the facilities of the building.” is done they will then call the owner to inform that the property has been booked and that they’d like to check in which can be done immediately because most of our properties are digitalised. By the time the bank calls you in the morning and tell you that they have detected a suspicious activity and by the time you check your property you would have already been robbed clean.

56 PB CONSUMER AWARENESS

Before & after: 1 kitchen, 3 different renovations

A bright and sparkling new kitchen is the holy grail for any renovator, but without an architect or designer on board, it can be hard to imagine a drab kitchen as anything but.

If you’re planning on doing a kitchen AFTER makeover yourself, the first ingredient 1. French Industrial you need is imagination. After that, Pendant lights, thick timber benchtops it’s all about confidence. Anything and an island bench to centralise the is possible with DIY – behold this space have made this chic French ’70s-style kitchen in Melbourne. It was Industrial kitchen look come together. renovated a total of three times by Bunnings design consultant Leanne a team of people varying in skillsets Watson says the industrial elements, and trade qualifications. The cost of such as solid timber benchtops, the kitchen renos ranged from under exposed galvanised pipe, suspended AUD1,500 at the most affordable end bulbs and rustic flooring, provide the 1 to under AUD16,000 for the most raw features typical of an industrial expensive. space. The addition of a printed brick Here are the results… splashback, profiled cabinet doors and black hardware bring a French flair to BEFORE the kitchen. Why stop at green-patterned floor “The fusion of French provincial and tiles? You’ve simply gotta match it industrial elements create a kitchen with some green laminate joinery, and with a point of difference,” Leanne don’t forget the yellow pine. At least says. “The use of a printed brick that’s how it probably went down splashback is a simple and effective in the ’70s. The questionable colour DIY solution that fuses the two styles scheme is not the only thing holding together.” this kitchen back. Even a simple flaw like the positioning of the laminate Materials used in this project: 2 table, closing off the space, makes the • Assorted Kaboodle kitchen cabinetry kitchen feel small and cramped. (Antique White/Alpine) • Marquee Antique Pull Handle 128mm Matt Black Pk of 4 • Kaboodle Modular European Oak Benchtop 2250mm x 900mm • Bellessi Printed Splashback

PB 57 CONSUMER AWARENESS

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1 2. Monochrome 3. Simple Dark, dreary and overrun with yellow pine and green. This streamlined, Scandi-inspired look The most affordable of the renovations, 2 An elevated ceiling and island bench is kept simple with a monochrome this pared-back kitchen just goes to opens up the space. colour palette and classic touches, show the wonders a bit of a tidy-up 3 A look of classic simplicity without the burden of shifting power outlets such as the marble-look benchtop. and lick of paint can do. Bold choices or making structural changes. A DIY wire vertical garden brings a of black and grey laminate paints 4 Concrete-look flooring and pops of pink make for a contemporary, low- freshness and touch of greenery to the paired with white tile and benchtop cost renovation. minimalistic look, anchored by bold finishes allows the timber-look Picture: Bunnings black pendant lights. “This kitchen breakfast table to be the stylish and is a renovation of the existing layout functional focal point of this kitchen. without relocating services and utilising Pops of colour from the painted product stocked in our warehouses,” stools and concrete-look floor tiles says Leanne. “We installed a brand add a contemporary lift. Leanne says new, stylish and appealing kitchen those on a budget could achieve a that’s both affordable and DIY- similar dramatic transformation to friendly.” their kitchen using very cost-effective solutions. “Paint finishes provide a Materials used in this project: quick, easy update to tired surfaces,” • Brilliant 240V Black Alexander she says. “Cost-effective vinyl stick- Pendant Light down flooring is a very simple, durable • Mondella Rumba Sink Mixer (tap) and DIY-friendly way to freshen an • Windoware Escreen roller Blind, outdated look.” Graphite • Mosaic Marble Look Hexagon Tiles – Materials used in this project: Coulson • Kaboodle Hickory Maple laminate • Mable look laminate benchtop – benchtop Kaboodle Modular Vanilla Cream • White Knight Laminate paint & tile • Vinyl Plank timber look flooring paint – Senso Urban Black Tech Self • Senso Urban Loft Dark Vinyl Tiles Adhesive Vinyl Planks • Rustoleum Diamond White Benchtop Transformation Kit This article was sourced from realestate.com.au

58 PB CONSUMER AWARENESS

Keep vs. throw: Decluttering the bedroom Today, we kick off a three-part mini-series that tackles the concept of keeping vs. throwing your ‘stuff’.

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1 The first area I’m going to tackle is the 3 THINGS TO THROW Any more than two pillows per person is usually more than you really need. bedroom, but keep your eyes out for 1. How much linen do you really need? two more instalments coming in the Extra bed linen should be donated to next few weeks. an animal shelter. If it’s soiled, torn, or just a colour that you no longer use, get Bedrooms are sanctuaries rid of it. There are puppies who need I believe the bedroom is the most these things more than you do and I important room in the house. It’s where guarantee your local animal shelter will you refresh, recharge and are most thank you for it. intimate. It should be the fortress you (and your partner) use to escape the 2. Pillows aren’t really decoration occasional insanity of the world around Any more than two pillows per person you. It should be your sanctuary – the is usually more than you really need. most welcoming of places in your They look nice in magazines, but if your home. But that doesn’t work if it’s a bedroom isn’t neat it may be because mess. Study after study shows that an your bed is hard to make up every day. organised space helps calm your stress Again, if you have trouble with clutter, levels down. So, if you’re having trouble take a good look at whether you really finding the peace you deserve in your need the purely decorative stuff on bedroom, here are some tips to help your bed, like extra pillows or throws, you create a place of zen. or whether they’re just getting in your way on a day-to-day basis. If your ‘decorator items’ are getting in the way then it’s time to say goodbye to them.

PB 59 CONSUMER AWARENESS

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3. Your bedroom is not a library If you have more than two magazines or two books on your bedside table then it’s time to tidy up and get them out of your bedroom. Keeping that area less cluttered and more organised 3 will help make the bedroom feel more welcoming and I promise your mind will feel more at ease, too. should only have clothes you love and 2 Is it time to recycle that stack of books and magazines sitting on your bedside table, are currently wearing. Everything else 3 THINGS TO KEEP which you’ve not read in years? 1. The faithful laundry basket needs to get moved out of the main 3 Once the room has been decluttered, bring A laundry basket in the wardrobe is wardrobe (and possibly out of your in a couple of small things that help you relax – a little can go a long way. a small but essential addition to any home). bedroom. I’m definitely more a fan of a basket that can be brought directly 3. Create calm and not clutter to the washing machine than having a Once the room has been decluttered, laundry hamper that you have to move bring in a couple of small things that clothes from. It saves a step, lets you help you relax and make your bedroom know where your laundry belongs and your special place. A candle, a warm – ideally – motivates you to get that blanket, some music. But don’t overdo washing done. it. A little can go a long way.

2. Only keep the clothes you wear These lists could go on and on but You wear 20% of your clothes 80% of if you start here with just these, I the time, so I’m guessing there are a guarantee your bedroom will look far lot of clothes in your closet that you more organised and peaceful than it seldom, if ever, wear. Your wardrobe has in the past. Get to it and good luck! This article was sourced from realestate.com.au

60 PB CONSUMER AWARENESS

The future of home tech is right here, right now

What will it be like to live in the home of the future? No one really knows, but home automation expert Ben Clarke has a fair idea…

1 Amazon’s Alexa is a voice-controlled home automation system. 2 The smart home of the future will know when you’re on your way home.

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From voice-controlled temperature “Don’t feel you have to rely on A smarter home and lighting control to robots that professionals to set everything up”. Imagine coming home after a long day vacuum and mop your place – the “Obviously the first installation needs to find the lights on so you don’t have future seems to be packed with to be done by an electrician, but once to fumble for your keys in the dark, and innovations designed to make our lives it’s in then it’s so easy to change and the temperature within your house set easier and more connected. manipulate the technology to suit your to the perfect climate. Bliss, right? With But how do you transform your lifestyle,” he explains. geo-tracking your smart home will be existing home, with its little-old regular From lights to temperature control, able to tell when you’re almost home light switches, into a full-on tech-savvy it’s easier than ever to set your home so it can disarm the security. haven with Alexa-improved automation up to be responsive to your every Other benefits of the smart home of levels? command. the future? “You can play your favourite We spoke to Ben, national manager Even those in a rental home can show without having to wrestle with of residential technology at Schneider benefit from some smart home three remotes to get the system set Electrics, to find out. Ben, who also technology, Ben explains: up,” says Ben, adding, “We’ve got happens to be the home automation “It’s really easy to add into an existing systems that tie in all the audio video expert for all houses featured on home – you can make your whole (AV) into one app, so you can pop the Channel Nine’s The Block, offers up house come alive.” telly on, close the blinds and turn the his biggest piece of advice for anyone “We’re doing more retrofits and lights off in one hit.” interested in smart home technology: renovations than ever.”

PB 61 CONSUMER AWARENESS

Once you’re ready for bed you can simply say, “Google, I’m ready for bed” and the lights and AV system will turn off and your bedroom lights will turn on. Ready for some shut-eye? Your wish is Google’s command. Simply say the words “Google sleep” and all the lights and electronics will be switched off and the security will arm. According to Ben, there’s technology that can make sure the iron is hot when you’re ready to iron your shirts the next morning, turn the fan on halfway through your shower and get your coffee ready for that first cup in the morning. Ben explains, “These systems all have electronic meters built in, so you’ll be able to tell how much energy you’re 3 using too”.

Functionality Due to the personal nature of home One of Ben’s recent installs, a home tech, costs can vary widely from in Elwood, Melbourne, senses when person to person depending on the the temperature changes: “So when level of integration you’re after. it reaches a certain level, the blinds “To buy the technology outright you open to allow more air flow; if the could be looking at less than $200 pre- temperature increases then the air- installation,” says Ben. conditioner will kick in.” Environexus home integration tools “The house automatically senses such as the Nexus-Nero (which sets humidity and motion.” Alexa or Google Home up in your “It’s retrofit, which also means you place) can cost between $200-$600 can enhance the system later if you for some of the lighting controls. 4 wish and you can keep an eye on your energy rating.” The next steps If you think all this sounds just a little Costs too futuristic, think again. According to Keen to get your home on track to Ben, it’s just a drop in the ocean when 3 Smart home controls will make your home automation but don’t want to break the it comes to home automation and completely connected bank? Ben says it’s easy to start small, there’s SO much more to come. Watch 4 You don’t have to get all your home tech installed at once. adding more as you go. this space.

This article was sourced from realestate.com.au

62 PB CONSUMER AWARENESS

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Why electro botanical is spring’s vibrant new trend It’s that wonderful time of year when we receive a joie de vivre like no other. The sun is shining more brightly, the chirping of birds sounds more sprightly and flowers are beginning to blossom beautifully.

The spring trend that’s taking the Expect to see a vibrant palette that is your artworks, rug and accessories interiors world by storm has taken a rich, warm and bursting with botanical can add a whole new lease of life to a step away from monochrome and is motifs and organic forms such as room. You can change up the theme diving headfirst into a world of colour. bountiful blooms and fabulous foliage. completely just by swapping out Following in the footsteps of fashion, Here’s a simple step-by-step guide colours, textures and prints. furnishings and decor are going to be on how you can introduce the vibrancy A fresh coat of paint is the easiest beautiful but daring. Electro botanical of electro botanical into your home this way to embrace the electro botanical will transport you to a world of colours, spring. look and will brighten and change the enchanting textures and expressive mood of a room. Another fantastic patterns. Furniture and decor alternative to paint is wall paper, and Replacing the dark, moody hues of If you’re looking to add smaller touches if you’re looking for a fully flexible winter and the minimalist, muted tones of that spring-time feeling, decor is solution, a removable wall mural is the of previous seasons, this new palette your first point of call. Changing over answer. unites colour with even more colour.

PB 63 CONSUMER AWARENESS

Removable wallpaper Try to keep these elements in a Wallpaper is a fantastic and simple similar overriding colour palette so option if you’re looking to embrace a that they don’t clash, and to help you daring interior design trend for only achieve a visual flow. one season. There’s a huge array of wallpaper designs to choose from and Accessories 4 you can even look at having a custom Decor and accessories are great design created. Be sure to check out a for introducing colour, texture and company called Pickawall, which House beautiful finishes. They also add depth of Home helped custom design. This and dimension to a space and really beautiful wallpaper that layers colour are the icing on the cake as they help and floral motifs really complements to create interest while allowing you to the whole electro botanical feel. showcase your own personal taste and style. Fabrics and cushions Decor objects can be quirky and With their tactile nature and vast unexpected, or just something that array of designs and patterns, fabrics you love or even have a sentimental and cushions are perfect for spicing up attachment to. No matter the reason, your home without too much expense accessories are a must for every 5 or commitment. This year fabrics are interior as they help to make the space bright, colourful and beautiful with feel complete. blooms or exotic botanical motifs. Botanicals and blooms These designs bring fun and a sense Decor and finishes Botanicals and blooms are another wonder and whimsy to a room. This spring is all about brass and must for any home this spring as they If you’re looking to add punches of brightness. Metallic finishing for decor, breathe life into the interior. Faux colour and pattern to a room, cushions furniture and lighting is favoured. flowers and plants are making a huge and throws allow you to do so in a Brightly coloured resin products are comeback as they now look life-like subtle way. However, when teamed filtering through along with coloured and require zero maintenance. They’re with gorgeous wallpaper and an eye- glass and terrazzo. Also, books about perfect for bookcases or hard-to-reach catching rug, cushions will balance flowers, plants and gardening make places where you want to add colour, these elements and create an overall perfect coffee table literature and will yet not have to worry about watering striking aesthetic. complete the electro botanical look. or how much sunlight the plant gets.

1 Electro botanical is the spring trend that’s taking the interiors world by storm. Picture: Jonathan Ho/ House of Home. Styling: Sarah Radhanauth and Julia Chapman. 2 Expect to see a vibrant palette that is rich, warm and bursting with botanical motifs and organic forms such as bountiful blooms and fabulous foliage. Picture: Jonathan Ho/House of Home. Styling: Sarah Radhanauth and Julia Chapman. 3 If you’re looking to add punches of colour and pattern to a room, cushions and throws allow you to do so in a subtle way. 4 This spring is all about brass and brightness. Picture: Jonathan Ho/House of Home. Styling: Sarah Radhanauth and Julia Chapman. 5 Faux flowers and plants are making a huge comeback. Picture: Jonathan Ho/House of Home. Styling: Sarah Radhanauth and Julia Chapman.

2 3 This article was sourced from realestate.com.au

64 PB REGULARS

Feng Shui guide to choosing a good home Master Sandy Paw shares tips on selecting the right design and location to maximize Feng Shui.

For those who believe in the Ideal surrounding environment a house on the hill welcomes wind flow importance of maintaining the The surrounding environment from all angles, which invite loss to the harmony and balance between your is very important when buying tenant. home surroundings and nature, it is a house. Features that you should important to live in a home that has 3look out for include topography, Look for a home built on a flat good feng shui. It is a given to want terrain, mountains, rivers, trees, roads, ground to own a property that can brings buildings etc. Besides the traditional From the Feng Shui perspective, us utmost comfort, and invites good Left Green Dragon, Right White Tiger, houses that are situated on slopes fortune to the household. Front Phoenix, Back Tortoise, one 6connote danger while houses built on When it comes to health, it is crucial should also take into consideration flat grounds show stability. to understand that Feng Shui is a features that might exude a negative form of knowledge that teaches us aura such as the impact from light to manipulate the energy and space reflection, sound, smell, sickle shape around us to help improve health and negativity (bridge or road that look well-being; it is not a magic remedy. like a bow), negative White Tiger Therefore, you should do adequate (construction at the right side of the research before buying a property building) and so on. because a feng shui master can only do so much to minimize the bad aura of a Avoid staying near cemeteries property with poor feng shui. Master Avoid a home within proximity Paw lists down six features to look out of cemeteries, funeral parlours, for when choosing a home: hospitals and other places that are 4prone to absorbing negative aura. It The shape of the building will bring unknown illnesses and bad A presentable overall exterior luck to the tenant, induce nightmares, is very important as it creates a or ruin their marriage or relationship. good first impression, much like how it The house also shouldn’t be facing 1affects a person’s chances of success government agencies, fire brigades, MASTER PAW SANDY during an interview. A property with a hospitals, power supply rooms, A famous Feng Shui consultant lot of missing angles is akin to a human dumpsites, power distribution houses in Malaysia. She is also the first with missing eyes or and feet, which is or anything that exude negativity. person in the Southern region certainly not ideal. Look for a property of Malaysia who established a with a neat and elegant design. Avoid homes built on high company that merged Feng Shui grounds with interior design. The fusion When buying a house, it’s critical Pay attention to the ground level between these two allows her work If you’re looking at a landed to check the wind flow. Since the to be both precise and functional at property pay attention to the 5practice of Feng Shui emphasizes on the same time. Her transformative ground level of the front yard and the the gathering of wind and aura, it is interiors are enjoyed by numerous 2backyard. A home with lower backyard believed that a windy area will blow commercial enterprises. and higher front yard or vice versa away auspicious aura. The ideal living will project imbalance. It will create environment should only have gentle discomfort and bring harm to the breeze and refreshing air flow. Building owner.

PB 65 What makes a good developer? A few industry experts were more than willing to share their insights.

David Shieh Chang Kim Loong Former VP Secretary-General Malaysia Property Inc & weekend property investor National House Buyers Association (HBA)

Carry out due diligence on developer’s track record Sufficient amenities, facilities and supporting infrastructure Conduct some field-work of your own by visiting at least Developers who provide adequate amenities and one of the developer’s completed developments. You can facilities like playgrounds, schools, markets, community secure the help of a realtor to schedule a unit viewing in the halls and even police booths are not only fulfilling the targeted residential development. obligations imposed by the local council but also their social responsibilities to society. These developers are Determine how serious the developer is in property commendable as good corporate citizens. It enhances management matters their image too. There are also developers who invest and Study how the developer’s current property was managed in build infrastructures first prior to selling their residential the first year upon the handing over of units to homebuyers. properties. Although developers often engage third parties to handle the building’s management, they are the ones who ensure Attention to environment and existing neighbourhood the hired property manager is doing a good job, besides Responsible developers do not just depend on their buyers being pro-active when it comes to rectifying defects. This to pass around the word of their good reputation. No gives you an insight on the developer’s corporate values and new project is an island - there are existing components best practices, and a good developer will not cut corners or all around such as neighbouring projects, trees, etc. evade responsibilities for the sake of higher profit. A responsible developer will ensure that the existing neighbourhood is not disturbed by its new development. Ascertain the difference between value-added facilities VS If there are complaints eg cracks, landslide, floods that the gimmicky features new construction is causing to the existing neighbours, Not all facilities being marketed by a residential developer these are quickly attended to. They also ensure that the is a boon for homebuyers. Sometimes having too many existing roads are kept clean and not littered or damaged features could be a liability, as these would be too expensive from construction activities. to maintain over the long run. We have seen some developments boasting over 100 types of facilities, most Encourages community living of which are not practical or necessarily useful. The worse Developers who encourage the forming of a resident/ part it, homebuyers are the ones who will end up paying for owner association are a welcome lot. Some even go to a much higher maintenance fee that the original marketed the extent of contributing monies for the formulation of a amount. buyers representative group for a meaningful channel to voice grievances. An admirable few also provide meeting facilities and allocate a multipurpose room for the elected representative group.

66 67 INDUSTRY UPDATE

Ar. Alice Leong James Tan Honorary Secretary 2017-2018 Associate Director Pertubuhan Arkitek Malaysia (PAM) Raine & Horne International

Honest marketing – They walk the talk They go the extra mile When marketing the desirability of their project, good Genuine developers will provide useful community facilities, developers will be honest with homebuyers on what to more than what is required by the local council’s planning expect upon completion. Should there be any delays in guidelines. They also take the effort to engage in corporate construction, they will be prompt and candid in informing social responsibility programmes or host community- their clients. engaging activities for the benefit of the rakyat.

They are easily accessible They are problem solvers Availability is one of the main criteria taken seriously by a These developers think of solutions which will benefit the responsible developer, they are quick to respond to client’s masses – their residential products cater to various buyer queries and concerns and will not leave a purchaser hanging. segments, who have differing needs such as single working In this day of age, it is almost entirely necessary for a good professionals, young couples and families. These developers developer to have a solid online presence as well, as this is a also will try their very best to incorporate green and testament to their willingness to connect with consumers. sustainable designs and features in their buildings to do their bit for the environment as well as to maximize homebuyer’s They cover all bases comfort and well-being. Another exemplary behaviour of good developers is that they will have solid relationships with various stakeholders They are visionaries in the industry including bankers, attorneys, equity sources, A great developer will have a forward planning vision and a general contractors, civil engineers, architects, brokers and keen eye in transforming bare plots of land into a goldmine appraisers. This will enable them to assist their purchasers’ for the development’s future residents - quality always when necessary and ensures that these homebuyers’ trumps quantity; these developers will not hesitate to interests are being well protected. sacrifice space in order to create a wholesome and liveable community instead of another concrete jungle.

66 67 Traits of a responsible housing developer

Knock, knock! Any ‘good’ housing developers out there?

I will not use the word ‘good’ housing industry. This is because In fact, more rookie developers are developers as the word is not in the post-independence period in joining the arena because the ‘sell- my vocabulary. However, there are Malaysia saw a boom in population then-build’ system allows them to responsible ones in the midst and more and economic growth. Hence, the make money from peoples’ monies. It are joining that category. demand for housing increased rapidly. has become a ‘riskless venture’ where In a sellers’ market, the buyers are profits are guaranteed and at the worst Qualities of a responsible developer always disadvantaged. When greed is scenario, the government will mop up The housing industry has come a inversely proportionated to conscience any project that gets abandoned. It is long way since the advent of large- among industry players, the situation befitting the adage: Profit Privatised, scale housing development in the can get very bad indeed. Losses Nationalised’. late fifties and early sixties. Industry We often hear of developers Enough on these few bad apples, players in those times were bona lamenting the fact that the shortage we at HBA do keep a look-out for the fide entrepreneurs. Most probably, of workers (legal or illegal, skill or qualities of responsible developers, conscience ruled and pride in inexperienced), shortage of building which should be emulated by all. So, workmanship, timely delivery of quality materials, complying with new laws or how do buyers judge if a developer is and affordable houses were their regulations make it tough for them to responsible or not? The construction hallmarks. complete their projects on time. At the industry is very unique industry - it is The present delivery system of same time, we also hear of projects one of the few professions where no `sell-then-build’ through progressive raking in millions of Ringgit in profits formal education is required. payments by quite a few developers and we never seem to hear news of There are a few habits practised by is fraught with risk for unsuspecting housing developers retiring or quitting responsible developers that prove they house buyers. the business entirely. This is proof have a passion for their profession. These second generation of housing enough that the housing development Here are some of the traits practised by developers, ‘good’ or bad, are used is still a lucrative business. responsible developers: to the lucrative environment in the

68 69 INDUSTRY UPDATE

• Adopt quality checks at all stages of construction, test and commissioned utility supplies; • Clear and clean individual units and construction site from construction debris; • Ensure the Certificate of Compliance and Completion (CCC) is timely with the handover; • Retain a team of competent workers to do rectification works promptly if there are complaints on defects; • Keeping sufficient stock of products such as floor tiles of the same quality and make.

Some developers even extend the mandatory defects liability period of 24 months. We have also heard of developers providing alternative who invest and build infrastructures Attention to environment and existing lodgings for their buyers while waiting first prior to selling their residential neighbourhood for defects to be corrected. Responsible developers do not just properties.

depend on their buyers to pass around the word of their good reputation. No Timely delivery – ‘No’ to EOTs Takes pride in quality and timely Time is the essence of the contract new project is an island - there are rectification of sale and purchase. Houses should existing components all rouns such Whether low cost or high-end be delivered within the stipulated as neighbouring projects, trees, etc. homes, chasing the developer to time stated in the sale and purchase A responsible developer will ensure rectify defects or bad workmanship agreement, i.e within 24 months for that the existing neighbourhood is not is a nightmare for buyers who lose ‘land and building’ and 36 months for disturbed by their new development. out while waiting for repair works. ‘building intended for subdivision’. If there are complaints eg cracks, Responsible developers do their own If for whatever reason, there are landslide, floods that the new quality checks before handing over delays, compensation should be construction is causing to the existing their products. Caring developers will paid immediately to buyers without neighbours, these are quickly attended practice the following before handing a second thought or finding devious to. They also ensure that the existing over their products. ways to ‘short change’ the buyers. roads are kept clean and not littered or damaged from construction activities.

Amenities, facilities and infrastructure Developers who provide adequate amenities and facilities like playgrounds, schools, markets, community halls and even police booths are not only fulfilling the obligations imposed by the local council but also their social responsibilities to society. These developers are commendable as good corporate citizens. It enhances their image too. There are also developers

68 69 Recently, we have unearthed some 304 EOTs (Extension of Time) that the Housing Minister and his Controller of Housing have issued to the detriment of house buyers purportedly invoking their powers under Regulation 11(3) of the Housing Development Regulations, 1989. The issue of EOT was challenged in the Court of Law and the Courts have on 27 February 2017 ruled that the issuing of EOTs is ultra vires their powers. This case is now a subject of an appeal by the Attorney-General Chambers. Responsible developers keep their buyers informed of delays and tell them of the next expected delivery date. Some buyers even told us of the extras they have received at point of delivery, which surely endears them to their developers. These are some of the ‘welcome packs’ that they have received: useful gifts like key box; warranties from paint companies, auto-gates, pest control, electrical Joint Management Body (in stratified Good communication appliances; certificates of treatment for projects) The line of communication should termites / pest control; a certified copy Responsible developers assist their always be open between buyers and of the CCC issued by the architect and buyers to form committees and be their developers, for the obvious certified copy of the building plans and prepared for the formation of the reasons: plans that relates to electrical wiring management corporation. These • Keeping buyers informed of the and water piping so as to facilitate the developers realise that the projects ongoing projects and their products; buyers future renovation. they have developed will eventually be • Developers not to appear having passed to the owners to maintain and shun away from their responsibility; Interest charged manage. • Treating the buyers with respect as One clause in the sales contract states buyers can serve as their marketing that the buyer is responsible for late Encouraging community living tool - Show respect and you will gain payment interest. It is a common Developers who encourage the respect; complaint by buyers that their forming of resident/owner association • Transparency and accountability on developers would charge interest for are a welcome lot. Some even go to the monies collected; late payment even though it is the fault extent of contributing monies for the • Providing regular accounting reports of the end-financier or their lawyers formulation of a buyers representative and budgets; handling the legal documentation. group for a meaningful channel to • Voicing of any grievances rather than Responsible developers assist in voice grievances. Some even provide through the media, which will bring ensuring that the documentations are meeting facilities and allocate a adverse effect to the detriment of in order and the buyer is not burdened multipurpose room for the elected both parties. with any late payment interest. representative group.

70 71 INDUSTRY UPDATE

Build first then sell industry will be a lot more orderly. There are responsible developers There is no step that can be more In the interim period, responsible whose names are synonymous with pronounced than for housing developers have embarked on the Built quality and trust. They are able to win developers to adopt the absolute ‘built then Sell (BTS) 10:90 concept where over buyer’s confidence. Today, they first then sell’ so that potential buyers the buyers pay 10% and the balance have created their own brand names. can see for themselves the finished of 90% is to be paid upon completion Thus it is wonder why even if these product before buying. We believe that of the house. They are already big developers do not advertise, all their in this way, most of the present day developers that find the BTS 10:90 units will be sold-out even before the ailments afflicting the housing industry concept workable and feasible. official launch. can be avoided and the housing

NATIONAL HOUSE BUYERS ASSOCIATION [HBA] No. 31, Level 3, Jalan Barat, Off Jalan Imbi, 55100, Kuala Lumpur Tel: 603-2142 2225 | 012-334 5676 | Fax: 603-2260 1803 Email: [email protected] | Web Site: www.hba.org.my

Striving for House Buyers Rights and Interest

70 71 Knight Frank’s Findings

72 73 RESEARCH DATA

Knight Frank forecasts Kuala Lumpur to see 2.5% growth in prime office rental over next three years

Knight Frank, the independent global property consultancy, launches the fourth edition of Global Cities: The 2018 Report. The report looks into the continuous trends in real estate across 40 Global Cities, equipping occupiers and investors with insights for future real estate decisions. As part of the report, Knight Frank ran three-year forecasts for 15 prime office markets in Asia Pacific.

Sarkunan Subramaniam, Managing HIGHLIGHTS OF THE FORECASTS: Director of Knight Frank Malaysia, comments, “Greater Kuala Lumpur is • 13 of the 15 markets are expected to see rental growth over the three one of the key market leaders in mixed- years (from the end of 2017), with only two markets expected to see use development. These self-contained rents soften over the period. developments, which promote the ‘live, work, play’ factor, integrate the retail, • Manila is forecast to see the strongest growth in prime office rents in Asia office and residential components and Pacific region, with nearly 20% over the next three years. Strong occupier are well supported by good transport demand from the offshoring and outsourcing market is expected to be infrastructure such as the MRT, the key factor in pushing rental levels upwards. LRT and BRT Successful mixed-use developments include Mid Valley City, • Brisbane which in 2017 has seen some rental growth return to the market Bangsar South and Sunway Resort following four years of rental contraction is forecast to see the second City. Damansara City which is seeing highest rental growth. the rejuvenation of its former town centre into Pavilion Damansara Heights • Similarly, Singapore a market that has seen office rentals softening since will be the new address to watch.” Q2 2015 is also expected to turn the corner as demand starts to exceed Datuk Zainal Amanshah, Chief supply. Executive Officer at InvestKL, states, “Greater KL and Malaysia has much to • Hong Kong is forecast to continue to see robust rental growth on the offer in comparison to other Southeast back of an anticipated continuation of the influx of Chinese mainland Asian cities. We’ve seen a steady tenants. influx of MNCs into KL in recent years, operating as a regional hub. This is • Beijing and Shanghai, despite healthy demand are forecast to see some because the ease of doing business is rental softening as the huge pipelines of supply in both cities come to the strong in Kuala Lumpur where Malaysia market. is ranked second in ASEAN according to World Bank’s Doing Business Report • Kuala Lumpur, ahead of the two Chinese cities, is expected to grow by 2017, and we see a few factors such 2.5% over the next three years, coming off from the 1.7% annual decline as the MRT launch being the drivers (Q2 2016 – Q2 2017). of growth to spur foreign direct investment in Greater KL.

72 73 “With the increase of supply, we see Teh Young Khean, Executive occupied space – which is about 0.5% the quality of offices continuing to be Director, Corporate Services, Knight of total office stock.” upgraded to cater to the requirements Frank Malaysia, highlights, “The Elsewhere in Asia Pacific, Nicholas of large corporates and multinational lacklustre office market continues to Holt, Asia Pacific Head of Research, companies. For instance, Greater see flight to quality as MNCs and local Knight Frank, says, “Rental growth Kuala Lumpur offers a great mix of corporations take advantage of the prospects across the major cities in liveability and lifestyle options, making availability of better grade office space Asia Pacific look positive over the it a perfect location for young talent to at competitive rentals and attractive next three years, reflecting solid live, work and play.” tenancy terms. regional growth prospects translating Judy Ong, Director of Research & At the same time, with changes into strong demand from a number Consultancy, Knight Frank Malaysia, in technology supporting flexible of sectors. Occupiers in technology, says “Kuala Lumpur, with its value working culture, the serviced office media and telecommunications are proposition supported by improving segment is gaining popularity. With especially likely to drive demand in pool of premium and good grade office strong government-led initiatives by many of the gateway cities – while space and transport infrastructure, a MDec, leading to the launch of Malaysia we also expect to see more Chinese multi-lingual educated workforce and Digital Hub and the Malaysia Tech tenants active in the major markets. competitive cost of doing business Entrepreneur Programme (MTEP), “Beijing and Shanghai, the two amongst others, continues to attract demand for co-working spaces is largest office markets in the Chinese MNCs to set up their regional business expected to grow across a diverse mix mainland, are likely to see rents soften hub here, evident by the success of industries and professions such as over the next three years given the stories of InvestKL. technology start-ups and SMEs. significant supply pipelines, offering The capital city, which will have a Greater Klang Valley continues to more options to occupiers looking to new financial district in Tun Razak see the expansion of global as well as renew or relocate.” Exchange (TRX), offers opportunities the emergence of local co-working Prime Rents Forecast: 2017 (year- that parallel other western and regional operators. To date, these flexible co- end) to 2020 (year-end) Ranking City markets. There is a pool of good working spaces collectively account Forecast: 2017 year-end to 2020 year- tenants, and offices in Kuala Lumpur for approximately 500,000 sq ft of end (% growth). offering great and flexible covenants.”

Prime Rents Forecast: 2017 (year-end) to 2020 (year-end) RANKING CITY FORECAST: 2017 YEAR-END TO 2020 YEAR-END (% GROWTH) 1 Manila 19.1% 2 Brisbane 16.5% 3 Singapore 15.8% 4 Bangkok 11.4% 5 Hong Kong 10.0% 6 Bengaluru 8.7% 7 Seoul 8.1% 8 Mumbai 7.7% 9 Melbourne 7.4% 10 Sydney 5.8% 11 New Delhi 4.6% 12 Kuala Lumpur 2.5% 13 Tokyo 1.8% 14 Shanghai -0.2% 15 Beijing -0.3%

Source: Knight Frank, Sumitomo Mitsui Trust Research Institute

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Kuala Lumpur’s skyscraper rents offer the best value among the global cities

Knight Frank, the independent global property consultancy, launches the fourth edition of Global Cities: The 2018 Report. The report looks into the continuous trends in real estate across 40 global cities, equipping occupiers and investors with insights for future real estate decisions. The report features the Skyscraper Index which examines the rental performance of commercial buildings over 30 storeys across 23 global cities.

Sarkunan Subramaniam, Managing HIGHLIGHTS OF THE SKYSCRAPER INDEX: Director of Knight Frank Malaysia, comments, “By 2020, more skyscrapers • For the fourth year running, Hong Kong’s skyscrapers continue to will dot the Kuala Lumpur skyline with command the highest rents in the world at US$304 per sq ft. The the scheduled completions of the iconic gulf between rents in the tallest buildings on Hong Kong Island and PNB Warisan 118 Tower and Exchange other markets continue to widen – this is evident with the tall towers in 106 in Tun Razak Exchange (TRX). PNB Hong Kong being 88% higher than second-placed New York this year, Group of Companies will occupy 60 compared to 76% last year. floors of the RM5 billion 118-storey tower which will be fifth tallest building in the • This is followed by Tokyo at US$140 per sq ft. Completing the top 5, world on completion.” skyscraper rents in San Francisco have risen to $117 per sq ft, ahead of “The entry of these skyscrapers London at US$110 per sq ft. will raise the benchmark of premium grade office space in Kuala Lumpur • The Skyscraper Index also shows Toronto’s skyscrapers are experiencing and is deemed timely as Greater Kuala the highest rental growth, rising 11.9% in the first half of the year to Lumpur continues to attract MNCs US$58 per sq ft. and transforms into a sustainable and liveable metropolis.” News Release • Over in the pacific, above average demand and tight vacancy rates have Nicholas Holt, Asia Pacific Head of driven Australia’s skyscraper rents upwards. The country’s skycrapers Research, Knight Frank, says, “Demand saw strong rental uplifts in the first half of 2017, with Melbourne (4.6%) from Chinese mainland institutions and Sydney (3.4%) ranking third and fifth respectively in terms of rental has been a major contributing factor growth globally. However, skyscraper rents in Melbourne (US$56 per sq in driving rents upwards in skycrapers ft) remain only approximately half of those in Sydney (US$107 per sq ft). clustered around Central on Hong Kong Island. • Rental growth was also evident in North American cities New York (1.8%), “Elsewhere in Asia, Tokyo, which San Francisco (3.5%) and Chicago (1.6%), as the recovering economy and stands third in the global list offers low unemployment rate translated into increased business confidence skyscraper office space for less than half and demand for space in trophy buildings. the rents that an office occupier would be expected to pay in Hong Kong; while • Kuala Lumpur’s skyscraper rents at US$23 per sq ft, offer the most value Singapore is less than half of that again. among the 23 Global Cities, have remained flat since last year. “Looking forward, with continued interest from occupiers for tall towers

74 75 offering the best panoramic views, we leading business centres. There are expect demand for skyscraper office cities with far more famous and much space across the Asia Pacific region to taller skyscrapers than London or Hong continue to remain robust.” Kong, that rank lower in the table. William Beardmore-Gray, Global “These figures are a wake-up call Head of Occupier Services and and show that demand for space, and Commercial Agency, Knight Frank, rents, in London’s prestigious towers says, “Firms pay to be in skyscrapers will only hold up if the city continues for the wow factor, but it is no to be seen as a top five centre of coincidence that the top five places international commerce.” in this ranking happen to be world’s

SKYSCRAPERS INDEX: PRIME % OFFICE RENTS RENT GROWTH RENT (US$ FOR UPPER (US$ / SQ IN SIX GLOBAL CITY / SQ M/ PER FLOORS IN FT / PER MONTHS ANNUM) SKYSCRAPERS ANNUM) TO Q2 (AS OF Q2 2017) 2017* RANKING 1 Hong Kong $304 1.1% $3,273 New York 2 $162 1.8% $1,742 (Manhattan) 3 Tokyo $140 0.0% $1,502 4 San Francisco $117 3.5% $1,259 5 London (City) $110 0.0% $1,187 6 Sydney $107 3.4% $1,149 7 Boston $77 0.0% $829 8 Shanghai $67 -3.9% $719 9 Singapore $66 -0.9% $711 10 Beijing $66 7.6% $710 11 Chicago $62 1.6% $667 12 Paris (La Défense) $58 0.0% $628 13 Toronto $58 11.9% $620 15 Melbourne $56 4.6% $608 16 Mumbai $56 1.8% $607 14 Frankfurt $54 0.0% $582 17 Los Angeles $45 -2.2% $484

* Excludes exchange rate effects; conversion to US$ based on 30 June 2017 rates

Source: Knight Frank, Newmark Knight Frank, Sumitomo Mitsui Trust Research Institute

Note: Upper floors is defined as above the regular skyline, thus offering panoramic views, but excluding the very top floors.

76 77 RESEARCH DATA

Tech districts growing across Greater Kuala Lumpur

KL Sentral, Mid Valley City and Bangsar South are becoming popular among tech companies.

Teh Young Khean, Executive Director RANKING HIGHLIGHTS: of Corporate Services, Knight Frank Malaysia, highlights, “With increasing • Shoreditch in London is identified as the world’s most expensive tech demand for premier business location, district, with intense demand for office space pushing rents as high as the country has seen a growth in new US$90.75 per sq ft – which are almost as high as prime rents in London’s Cybercities and Cybercentres across main financial district; and more than doubled that of Singapore’s One- Greater Kuala Lumpur, including KL North (US$41.45). Sentral, Mid Valley City and Bangsar South which are growing in popularity • Bangkok’s CBD including Rama 1, Sathorn and Sukhumvit Soi 21 with tech companies.” (US$74.25) and Zhongguancun in Beijing (US$55.05) are the only two Nicholas Holt, Asia Pacific Head of tech districts in Asia Pacific on the top 10 list. Research, Knight Frank, says, “While the new economy is driving demand in • Shoreditch is followed by Mid-Market in San Francisco, where rents many of Asia Pacific’s office markets, are US$77 per sq ft, and Silicon Docks in Dublin (US$76.30) which has rental costs in specific technology become the European base for many tech corporates including Twitter cluster areas vary significantly. and Google. De-centralisation has provided opportunities for tech companies • Despite boasting some of the most expensive office buildings in the outside the major tertiary office areas. world, Hong Kong, Shanghai and Singapore all provide affordable office This is reflected in Shanghai where space in their emerging tech districts. o In Cyberport, the heart of Hong opportunities can be found outside the Kong’s tech sector, office rents are US$36.90. CBD in areas such as Zhangjiang o Zhangjiang Hi-Tech Park in Shanghai and One-North in Singapore offer Hi-Tech Park, as compared to Bangkok rents at US$27.50 per sq ft and US$41.45 per sq ft respectively. where typically tech companies would be clustered in the CBD.” • (US$11.55) in Kuala Lumpur – the city’s pioneer global tech James Roberts, Chief Economist at hub in 1997 – offers some of the most competitive rents compared to the Knight Frank, says, “The fact that rents rest of the Global Cities. in Shoreditch exceed those in Brooklyn and Mid-Market San Francisco underlines London as a world-leader in tech.

76 77 “However, while there has been Datuk Zainal Amanshah, Chief much debate on how Brexit will affect Executive officer at InvestKL, says, London’s status in financial services, “MNCs are starting to immerse in the impact on the burgeoning tech the digital economy in a big way and sector has been overlooked. To Kuala Lumpur’s dynamic eco-system is maintain its position London will need digitally ready in terms of talent, choice to attract and retain the world’s best of business hubs, key stakeholders talent, and that means works visas. support and cost. The city continues “Support for London’s thriving to attract FDIs to join the long list of tech industry should be higher on the MNCs that have called Kuala Lumpur government’s list of priorities.” their digital and regional hubs.”

OFFICE RENTS PRIME RENT IN TECH (US$ PER CITY TECH DISTRICT DISTRICTS SQ FT PER RANKING ANNUM) 1 London Shoreditch 90.75 2 San Francisco Mid-Market 77.00 3 Dublin Docklands 76.30 4 Bangkok CBD: Rama 1, Sathorn, Sukhumvit Soi 21 74.25 5 Paris 1st, 2nd and 9th Districts (Cité Financière) 74.00 6 Boston Seaport District 72.00 7 Los Angeles Playa Vista 62.00 8 New York Brooklyn 56.05 9 Beijing Zhongguancun 55.05 10 Washington DC NoMa (North of Massachusetts Avenue) 51.25 11 Austin The Domain 44.50 12 Seattle South Lake Union 44.00 13 Dubai Dubai Media City 43.55 14 Singapore One-North 41.45 15 Berlin Potzdammer Platz 40.70 16 Toronto King & Spadina 39.90 17 Hong Kong Cyberport, Pokfulam 36.90 18 Miami Coconut Grove 35.00 19 Chicago Fulton Market District 35.00 20 Amsterdam City Centre 34.45 21 Sydney Pyrmont 33.80

78 79 RESEARCH DATA

TAKING on the World

For occupiers, the business rationale for ‘going global’ is changing, creating some fundamentally different property requirements.

DR LEE ELLIOTT Head of Commercial Research Knight Frank

78 79 The emergence of the Global Phase 3: Advantage through putting report, the emergence of tech and Cities is a direct consequence of the the right things in the right place creative businesses with global intent on-going need for corporates to Next has been a push towards or significance has brought various secure competitive advantage and functional specialisation. Combining tier two cities, such as Austin, Berlin commercial relevance. Yet neither the learning from the previous two and Dublin, into firmer focus as global the source of this advantage, nor the phases, corporates created global business centres and, hence, office global geography of business which operational portfolios whereby markets of international significance. has derived from it, has been static. functions, part functions or entire There have been four recognisable service lines, have been placed in those THE TRUE IMPLICATIONS OF GOING phases through which this global global locations that can best provide GLOBAL geography of business has evolved. the right human resources at a price There are broader property market point and skill level appropriate to the implications emerging from this Phase 1: Advantage through scale significance of that function or service. fourth phase. The demand side of the Initially, significant office occupiers property equation is changing and is such as investment banks, accountants, Phase 4: Advantage through speed and forcing cities to change their ‘offer’ to management consultants, lawyers agility occupiers. There are five key shifts: and the like, sought to drive growth We are now in a fourth phase of global through the simple exportation of business growth in which speed takes 1. A broader pool of demand within services across the globe. This was precedence over size. Emboldened, cities – demand is now drawn from a rudimentary strategy whereby the enabled and forever disrupted by a deeper range of industry sectors dots on the map signified the global technology, corporations go global and with a greater variation in the coverage upon which competitive to gain rapid access to the latest size of floor-space requirements. We advantage was secured. The tier one innovative ideas, and the talent pools have witnessed, for example the tech markets of London, Tokyo, New York generating such ideas, in order to sector replace financial services as City and Paris were firmly to the fore. utilise any competitive advantage the dominant source of demand in before it becomes eroded. To achieve the London market over a number of Phase 2: Advantage through cost this, a corporation must have the years, but also a small reduction in the efficiency systems, processes and platforms to average size of leasing deals across the A second phase emerged as leverage these short-lived moments of city. Global Cities are no longer centres corporates sought to utilise global advantage, and at a global level. of singular sector excellence but rather markets as a means of delivering cost In this phase, business success markets that have diversity. efficient services. A corporate strategy becomes a function of agility, based on scale was usurped by one connectivity – both physical and 2. A very clear and intense urban focused on broadening representation virtual - and the rapid capitalisation focus - city cores, in markets such as in those cities where operating of good ideas. Crucially, the decision Manhattan, are being re-born as places costs were lower than in developed to go global is occurring at a much whereby innovative and creative talent economies. This led to a raft of earlier point in the business life- can be sourced and secured. This is corporate off-shoring initiatives, which cycle – again through the ability of exemplified by companies such as Nike placed customer and shared service technology to reduce barriers to entry. and Spotify expanding in New York centres in cities like Bengaluru, Cape As we noted in last year’s Global Cities City. Town, and Warsaw.

80 81 RESEARCH DATA

3. The push for flexibility – in an environment of short-lived competitive People and property costs across the Global Cities advantage, occupiers are demanding flexibility in terms of building design, lease terms and, critically, tenure. On this last point, we have seen the rapid emergence of co-working space across Global Cities – one recent study predicts that there are currently more than 11,000 co-working facilities globally and that the market will have a Compound Annual Growth Rate of 24% in the years out to 2020. Co-working increasingly provides a solution not just for start-ups but also corporations who generate innovative products through smaller, creative teams.

4. The flight to quality and service – linked to points two and three, has been a growing occupier focus on securing high quality and heavily serviced space, which serves as a magnet in attracting and retaining talent to drive growth. This has been compounded by low levels of new office development over recent years.

5 Space as an accelerator of innovation - the fourth phase of going global does not alter the need for offices but does change the way in which offices are utilised. No longer a Source: Knight Frank; Deutsche Bank AG ‘Mapping the world’s prices, 2017’. battery farm for email processing and administration, offices are being used as innovation labs with corporates such as Coca-Cola, Telefonica, and Capital One creating distinct business accelerators and incubators within the Global Cities.

80 81 RESEARCH DATA

The rise of navi Mumbai

A new business district was needed for Mumbai, beyond the city centre, to house its tech sector.

VIVEK RATHI Vice President Research Knight Frank India

Mumbai’s CBD and Off-CBD Attracting occupiers mainly from comprises locations like Nariman the IT/ITeS sector, Navi Mumbai has Point, Fort, Cuffe Parade and Worli. emerged as the tech hub of the city, Until the late 1990s, these districts accounting for one-fifth of the current accounted for more than 90% of the office stock. In the last decade, the office stock in the city, and were the emergence of Navi Mumbai, the only meaningful locations in the city satellite city of Mumbai, led to office from an occupier’s perspective; mainly developments mainly in locations on account of their indomitable status like Airoli, Vashi, Mahape, Turbhe and as the commercial and trade hub of Belapur. Central to its success has been the city. However, continued growth the availability of large land parcels, in commerce and a shortage of land which paved the way for development in the CBD encouraged new office of modern buildings, offering large development post-2000 elsewhere. floor plates and affordable rentals.

82 PB RESEARCH DATA

Kuala Lumpur high end condominium market 1H2017

Knight Frank highlights latest real estate trends in KL’s condominium market.

HIGHLIGHTS Economic indicators for 1Q2017 remained stable, with the 1Q2017 with Gross Domestic Product unemployment rate of 3.5% (4Q2016: Subdued high-end condominium (GDP) expanding at 5.6% (4Q2016: 3.5%). To remain accommodative to market with developers scaling 4.5%), driven mainly by higher private economic activity and to support back on new property launches expenditure. For 2017, the country’s domestic demand, Bank Negara amid continued weak demand. GDP growth forecast range between Malaysia (BNM) continued to maintain 4.3% and 4.8%, supported by gradual the Overnight Policy Rate (OPR) at improvement in the global economy 3.0%. As for residential property and domestic demand. purchase, the ratio of approvals to Headline inflation for 1Q2017 was applications for 1Q2017 was lower at With potential purchasers and higher at 4.3% (4Q2016: 1.7%), driven 40.4% (4Q2016: 44.3%). Meanwhile, investors waiting on the sidelines, mainly by high transportation cost. The 1Q2017 also saw a marginal increase in developers continue to tweak annual inflation for 2017 is expected to the total outstanding / non-performing their marketing strategies to be in the region of 3.0% to 4.0% (2016: loans in the housing sector to RM5.54 sustain earnings through “stock 2.1%). The labour market condition billion (4Q2016: RM5.41 billion). clearing” of completed and on- going projects.

Limited completions of highend condominiums / residences during the review period.

Secondary pricing in selected locations remained flat while rentals continued to be under pressure.

China’s capital control impact projects targeting buyers from Note: (1) (F) = Forecast mainland China. (2) The locality of Bangsar includes Bangsar, Bangsar South, KL Sentral, KL Eco City and Pantai Sentral Park

Source: Knight Frank Research

PB 83 The Ruma Residences (199 units) and The Establishment (521 units). These developments, leveraging on international and regional class hotel brands, continue to raise the standard of luxury living in Kuala Lumpur. They will join the 2016 maiden completions of branded residences in Kuala Lumpur, namely, the 441 private residences at Pavilion Banyan Tree Signatures and the 160-unit The Residences at The St. Regis Kuala Lumpur. There were noticeably less launches of high-end Source: Knight Frank Research condominiums / residences during the review period. Notable launches in 1H2017 include Supply & demand of hotel branded / managed projects the Serviced Residences at KL During the period under review, the which made their wave since 2013. Metropolis’s MET 1; Isola @ KLCC; high-end condominium market in Kuala They are The Ritz-Carlton Residences and Dorsett Residences Sri Hartamas Lumpur remained subdued with lesser (288 units); Four Seasons Place (242 (Phase 1) which was previously market activity as potential buyers and units); Tribeca Bukit Bintang (318 units); marketed as Hermitage. investors continued to adopt the ‘wait- and- see’ approach. Amid weak market sentiment, Wilayah Persekutuan Kuala Lumpur (WPKL) recorded lower volume and value of transactions in the condominium / apartment segment with 1,247 transacted units valued at RM975.88 million in 1Q2017, 12.2% and 5.9% lower than the previous quarter (4Q2016: 1,420 units valued at RM1.04 billion). The cumulative supply of high-end condominiums / residences stood at 47,380 units in 1H2017 following the completion of three projects contributing a total of 1,333 units. They are The Sentral Residences (752 units); Arcoris Mont’ Kiara (331 units) and 28 Dutamas (250 units). By the second half of 2017, another eight projects totalling 2,979 units are scheduled for completion, five of which comprise Source: Knight Frank Research

84 85 RESEARCH DATA

Prices and rentals City, continued to remain resilient at projects. Developers are also seizing During the review period, there was RM1,600 per sq ft to RM1,800 per sq ft. opportunities in this soft market to no sign of recovery in the rental Despite the soft market, asking prices increase their land banks in strategic market. Asking rentals in selected continue to remain relatively stable Klang Valley transportation routes older schemes in the localities of KL although vendors are more flexible in for transit oriented developments City, Damansara Heights, Bangsar and negotiations. and affordable cum mass housing Mont’ Kiara remain under pressure. projects. The popularity of dual-key Newly launched projects are priced Outlook units, offering additional rental income, from RM1,000 per sq ft onwards. In China’s recent regulatory changes and smaller sized units continues as KL Fringe, the serviced residences over international monetary transfers affordability remains a key issue in the at MET 1 KL Metropolis are priced continue to impact projects targeting domestic housing market. from RM1,000 per sq ft to RM1,100 buyers from mainland China. This Moving forward, the recent rebound per sq ft on average while in KL City, is expected to further dampen the in the country’s economy coupled with the pricing for Isola @ KLCC range already weak high-end condominium strengthening of the local currency and from RM1,500 per sq ft to RM1,600 market which is undergoing self- stable employment market amongst per sq ft depending on unit sizing, correction amid widening gap other positive developments, offer ray floor level and other factors. In the between supply and demand. Amid of hope for recovery in the high-end secondary market, transacted prices the challenging property market condominium market. Malaysia remains of smaller condominium / apartment environment, developers continue as an attractive investment destination units sized below 800 sq ft in selected to tweak their marketing strategies in the region with its stable property schemes such as Marc Serviced to sustain earnings through ‘stock market and relative lower entry prices Residence and ViPod Residences in KL clearing’ of completed and on-going that continue to offer reasonable returns.

Source: Knight Frank Research

DISCLAIMER: The data above represents the findings of Knight Frank Research and is not in any form and endorsement or recommendation by iProperty.com. Readers are encouraged to seek independent advice prior to making any investments.

84 85 Kuala Lumpur & Beyond Kuala Lumpur (Selangor) Office Markets Highlights 1H2017

The Kuala Lumpur and beyond Kuala Lumpur (Selangor) office markets continue to remain lacklustre with demand lagging behind supply.

HIGHLIGHTS Market indications Located in the established township The Kuala Lumpur and Beyond Kuala of Taman Tun Dr Ismail, Menara Ken @ Lumpur (Selangor) office markets TTDI is a brand new 13-storey Grade A The quality of office stock for continue to remain lacklustre with office tower with a NLA of 300,000 sq both Kuala Lumpur and Beyond demand lagging behind supply. ft. The MSC compliant tower, certified Kuala Lumpur (Selangor) with LEED Platinum, BCA Green Mark continues to be upgraded with Supply Platinum and GreenRE Platinum, the completion of more Grade A As of 1H2017, the cumulative supply offers typical floor plate of 25,000 and dual-compliant (MSC+GBI) of purpose-built office space in Kuala sq ft. Three floors of the building are buildings that caters to the Lumpur and Beyond Kuala Lumpur designated for food & beverages (F&B) requirements of large corporates (Selangor) stood at circa 99.0 million outlets, ballroom, function rooms, and multinational companies. sq ft. There were eight completions a performing arts theatre and arts during the review period, adding some gallery while the recreational facilities 2.63 million sq ft of space to the existing at the rooftop include a gymnasium, stock. In KL City, the cumulative supply swimming pool and sky bar. increased to 51.4 million sq ft following SunGeo Tower forms part of Sunway completion of Menara Public Bank Geo integrated development that also 2 while in KL Fringe, the completion comprises retail shops, office suites Refurbishment and of Menara Ken @ TTDI, The Pillars @ and residential components. The redevelopment opportunities KL Eco City and Menara SUEZCAP 1, 17-storey Grade A tower comprises 14 abound for well-located older and brought the cumulative supply to 27.3 levels of office space, three levels of lower grade office stock. million sq ft. retail space and sky gym at rooftop. In Beyond KL (Selangor), the SunGeo Tower, which comes with cumulative supply increased to 20.2 MSC Malaysia Cybercentre status, is million sq ft following completion of currently in the process of applying for SunGeo Tower, Block G and Block H GreenRE Certification. The building of Empire City Damansara and Mercu with NLA of 161,000 sq ft offers Mustapha Kamal (Tower 1). Menara typical floor plate of approximately The scheduled full completion Public Bank 2, a 40-storey newly 11,280 sq ft. Office buildings slated for of the Sungai Buloh-Kajang MRT completed Grade A office tower, at completions in 2H2017 include JKG Line (MRT Line 1), linking to KL Jalan Raja Chulan in the Golden Triangle Tower in KL City; South Point Office Sentral, Malaysia’s largest transit of Kuala Lumpur, offers a net lettable and Setia Tower in KL Fringe; and hub by July, is expected to boost area (NLA) of 420,000 sq ft. The green Menara Star 2 and Block J of Empire demand for offices in established building with both LEED Platinum City in Beyond KL (Selangor). and upcoming decentralised and GBI Gold certifications features In 1H2017, there were several notable office locations. dual entrances, a banking hall and a office related announcements. The quadruple-volume grand lobby. It has strategic partnership of Naza TTDI typical floor plate of about 12,500 sq ft. Sdn Bhd and Triterra Metropolis Sdn

86 87 RESEARCH DATA

Bhd, has unveiled The MET Corporate FIGURE 4 Towers on a 2.47-acre site identified as Selected Grade A Office Asking Rentals Met 8, one of the eight precincts within the 75.5-acre integrated development of KL Metropolis in Jalan Duta. The development consisting of a 42-storey Tower A and a 30-storey Tower B with net saleable areas of 450,000 sq ft and 150,000 sq ft respectively, has an estimated gross development value (GDV) of RM650 million. It is slated for completion by 2021. Tower A, targeted at retail buyers and investors, offers office suites ranging from 818 sq ft to 2,584 sq ft on Executive levels, 3,606 sq ft to 4,231 sq ft on Premier levels and 16,104 sq ft per floor on Prestige levels, priced at about RM900 per sq ft. The developer is looking to sell Tower B to a single buyer. Sunrise Innovation Sdn Bhd, a wholly owned subsidiary of UEM Sunrise Bhd, will undertake a mixed development project on the site of the Malay College Old Boys Association (MCOBA) at Jalan Seputeh, off the Federal Highway. The proposed development Source: Knight Frank Research with GDV estimated at more than RM750 million, will feature a new office Paramount Corp Bhd’s mixed use City, continued to impact the office building, a banquet hall with a capacity development at the former site of KDU market. As for the decentralised office for 1,200 persons and two blocks of University College at Jalan Universiti, locations in KL Fringe and Beyond serviced apartments together with Petaling Jaya, is expected to be KL (Selangor), the overall occupancy other supporting facilities. launched in the middle of the year. The rates remained fairly stable at 90.9% Anzo Holdings Bhd, via its wholly- 2.1-hectare project, called Atwater, has (2H2016: 91.6%) and 77.8% in 1H2017 owned subsidiary Harvest Court an estimated GDV of RM730 million (2H2016: 78.6%), supported by Properties Sdn Bhd, has entered and will comprise two office towers (of improved connectivity following the into a Collaboration Agreement with 16 and 17-storey high), two residential completion of rail infrastructure works, landowner Captive Max Sdn Bhd towers (a 30-storey family-oriented namely the LRT extension line and for a joint development in Petaling tower and a 38-storey serviced-suite phase one of the Sungai Buloh-Kajang Jaya, Selangor. With an estimated tower) and retail lots. MRT Line 1. GDV of RM420 million, the proposed development will comprise a car Occupancy Rentals showroom centre and four blocks During the review period, the overall During the review period, the average of signature office towers. Located occupancy rate for KL City continued achieved rental rates in both KL City on a 2.87-acre commercial site, the its decline to record at 80.7% (2H2016: and KL Fringe dipped marginally project has an estimated gross floor 82.8%) as the high supply pipeline to RM6.04 per sq ft and RM5.69 area (GFA) and net floor area (NFA) and weak demand from its traditional per sq ft respectively. However, the of 500,000 sq ft and 350,000 sq ft occupiers in the Oil & Gas (O&G) average achieved rental rate Beyond respectively. and banking sectors, especially in KL KL (Selangor) remained stable at

86 87 RM4.13 per sq ft. Despite a slow office Investment activity near term. Meanwhile, Affin Holdings market performance, well located During the review period, the is in the final stages of discussion to Grade A office space in Kuala Lumpur, investment market was fairly active dispose its office tower in Shah Alam continued to command higher asking with several office buildings under to Serba Dinamik Holdings Berhad. gross rents, ranging from RM7.00 per offer and in negotiation stage. Some Located in Seksyen 14, the 16-storey sq ft to RM15.00 per sq ft per month. of these older office assets offer building with a 4-storey basement has Notable office openings and refurbishment and redevelopment a net book value of RM38.25 million. occupier movements during the review opportunities and they include Menara The bank has been leasing the offices period include the following: Prudential in KL City and Wisma MCIS at Menara Affin located along Jalan Swiss Re Corporate Solutions has and annexe block in Petaling Jaya. Raja Chulan as headquarters for the opened a new office at Naza Tower @ Property investment and holding last 40 years. Platinum Park in Kuala Lumpur. The company, KL 33 Properties Sdn Bhd, The most anticipated property commercial insurance arm of Swiss Re is acquiring Menara Prudential from transaction for the remaining of this Group offers innovative, high-quality OCBC Properties (M) Sdn Bhd for year is the sale of Vista Tower, the insurance capacity to mid-sized and a consideration of RM125 million (or final component of The Intermark large multinational corporations across circa RM759 per sq ft over 164,706 sq integrated development located at the globe. ft NLA). Located along Jalan Sultan Jalan Tun Razak, Kuala Lumpur. The Pegasus Agriculture group, one of Ismail in the city’s financial district, the 62-storey office tower offers 550,000 the leading owners and operators of 24-storey building serves as the head sq ft of NLA with typical floor plate hydroponic farming facilities in the office for its anchor tenant, Prudential ranging from 11,000 sq ft to 11,900 sq Middle East and North Africa (MENA), Assurance Malaysia. ft. has opened a new office in Kuala In June, Wisma Selangor Dredging, Lumpur (Menara Darussalam). comprising four blocks of office Outlook Square Yards, a global real estate buildings connected by a fountain Amid widening mismatch between and aggregation platform, has opened a courtyard, atop two levels of basement supply and demand, both rental new office in Kuala Lumpur (Q Sentral) car park, was sold for RM480 million and occupancy levels continue to Feilo Sylvania, full-spectrum provider of (or circa RM1,323 per sq ft over be under pressure. Landlords are professional and architectural lighting 362,782 sq ft NLA). The property, stepping up on their marketing efforts solutions, has opened its Southeast located along Jalan Ampang, is within to improve occupancy levels while Asia hub in Kuala Lumpur. walking distance to Suria KLCC. being more flexible in negotiations in The regional office is located in AmanahRaya Real Estate Investment this tenant-led market. The scheduled Wisma UOA Damansara II. LS Retail, Trust (AmanahRaya REIT) continues full completion of the Sungai Buloh- a world-leading provider of all-in- to look for investment opportunities in Kajang MRT Line 1 by july this year, one business management software this weak market. is expected to boost demand for solutions for retail and hospitality The REIT, which formed a strategic offices in established and upcoming companies of all sizes, has opened alliance with Kenedix Asia (a unit of decentralised office locations. its Malaysian office at Meritus Tower, the largest independent Japanese New take-ups from oil & gas Oasis Corporate Park in Petaling Jaya, real estate asset management firm) and banking sectors are expected Selangor. early this year, is looking to acquire a to remain challenging while for IT, commercial property (office tower) recruitment, e-commerce and shared in Kuala Lumpur, valued at between services sectors, more inquiries and RM350 million and RM370 million in the leasing activities are expected.

DISCLAIMER: The data above represents the findings of Knight Frank Research and is not in any form and endorsement or recommendation by iProperty.com. Readers are encouraged to seek independent advice prior to making any investments.

88 PB INTERNATIONAL PROPERTY NEWS

International News & Features

PB 89 Frasers Centrepoint makes massive UK commercial property buys State of London’s property market uncertain

Frasers Centrepoint (FCL) acquires 4 Property prices in London have Northern Ireland, Scotland and business parks in the UK – investments slumped once more in August North-western districts have been totalling £686 million or $1.2 billion 2017. Since the Brexit vote last year, buoyant. Sales have remained level Singapore dollars. The 4 business parks the UK property market has been since November 2016. Home prices are Winnersh Triangle in Reading, wavering. Policy changes mean have risen the most in August as the Chineham Park in Basingstoke, more landlords will pay more taxes. market experiences a brief sense of Watchmoor Park in Camberley and The recent breaches of public safety relief. Hillington Park in Glasgow. The total could also have far-reaching effects. Moving ahead, property analysts built area of these 4 business parks While London’s real estate sector are expecting more landlords exiting come up to 4.9 million sq ft. flails, markets in other parts of the the market. And with this, the supply FCL has had a presence in the UK UK are holding up comparatively of rental units will decrease. Hence and Europe for the past 15 years, well. Numbers from the Royal demand will increase. And this though mainly in the residential, Institution of Chartered Surveyors could mean the rental market will hospitality, industrial and logistics have shown a modest recovery fare much better with a growth of sectors. They are hoping to expand from July’s 4-year-low figure. Only 3% over the next 5 years. This is far into the commercial and business park in the prime Central London area more than the 2% rise in property sectors with this recent acquisition. has asking prices fallen below what prices projected in the same time Plus points are their ability to leverage buyers are willing to fork out. period. existing networks in their industrial, logistics, commercial and business parks pursuits in Australia, Germany, the Netherlands, Singapore, and Thailand. These 4 freehold properties are a debut move from Frasers Property International, a wholly-owned subsidiary of FCL. This may be their first foray into a new market segment but it is a well-thought-out move. FCL group’s chief executive officer Panote Sirivadhanabahkdi has mentioned that these acquisitions will help grow the group’s presence overseas. This new market segment seems to be a promising one. Frasers Property has already entered into a conditional agreement to purchase yet another business park – Maxis, Bracknell.

90 91 INTERNATIONAL PROPERTY NEWS

Rise of China’s home prices curbed for now

Residential property prices in China Across China’s 15 most popular There seems to be no immediate need have continued to rise in August 2017 markets, prices have stabilised to intensify controls. Though the tune but at a slower pace. Could this be a sans monthly increases. Property may change as speculators are now sign that the curbs implemented by the analysts consider this a turning point turning their attention to smaller cities Chinese government over the past year in particular for the Tier-1 and Tier- with fewer curbs. or so have finally worked? 2 cities. Even the shares of Chinese Restrictions on the real estate property developers have responded market effective over the past year saw positively after the news. Home prices 45 major cities in China implementing in Shenzhen fell 1.9% over the past year curbs on the housing market. While the but in Shanghai and Beijing, prices policies differ from city to city in terms continue to rise by 2.8% and 5.2% of severity, the average new home respectively. prices in 70 major cities have risen only A promising result of the restrictions 0.2% last month. This is half of the rate is that investors are feeling more of increase in July 2017, according to confident and comfortable with the the National Bureau of Statistics (NBS). current status of the real estate sector.

Pace of London property prices slowest since 2012

London property prices have risen autumn this year. The case for concern lower price tags and sales have risen 1.1% over the past year, the slowest comes from autumn being the season 4.8% from the year before. With a since 2012. There was, however, a 3.1% when the real estate market usually slowing economy following Brexit, drop from the month before. Also, picks up. But 2017 was the first year stand-still pay increases and rising for the first time since 2012, London there was a month-on-month decline inflation, local buyers may welcome property prices recorded a decline in since 2012. the change. Annual property price Asking prices for London properties increases are now at half the rate of have fallen 3.2% over the past year. pay growth which gives buyers a bit of This is a stark contrast from the more a relief when it comes to coping with than 20% growth in 2012. The priciest their finances. borough of Kensington and Chelsea The Bank of England has however saw the biggest decline of 10%. In suggested that they may increase Hammersmith and Fulham, prices fell interest rates for the first time in a 8%. decade. Should that happen, and if There are plus sides to the situation, inflation rises at the same time, it would however. Buyers are attracted by the set buyers back a few steps.

90 91 Largest former HUDC estate offered for collective sale

The former Housing and Urban The collective sale committee Development Company (HUDC) estate started the process after receiving an of Braddell View was viewed as prime 82% vote from its 400 responses to property long before it was privatised sell the property en bloc. While the in March this year. And now, its value property has a great deal of potential has possibly appreciated as it goes up with its proximity to the Braddell, for collective sale. Marymount and Caldecott MRT The latest en bloc deal to be sealed stations, the estate is rather getting on was Pine Grove at $1.65 billion. But with age. Braddell View’s $2 billion, should the The last boom in the collective sale sale be closed, will trump that. Each market was back in 2007. During this unit owner will then stand to receive an time, plots where new condominiums average of more than $2 million. With such as The Interlace and d’Leedon over 1.125 million sq ft of development now stand were sold. As large and space, it still has 63 years left on its impressive as these developments are, 99-year lease. The residential site has unsold units remain. With collective a 2.1 plot ratio and would comfortably sales, the time factor is crucial. There is house a new development of up to competition now from other sites being 3,000 units. sold en bloc, such as Normanton Park, and more in the future.

92 93 SINGAPORE PROPERTY NEWS

Bartley Road private condo Spring Grove tries its hand at en bloc once more sold en bloc for $271 million

Owners of the Sun Rosier it would work out to $1,807 PSF for condominium must be pretty chuffed each owner of the 325 units. This is with the windfall that came with their considerably higher than the average en bloc sale. The condominium was selling prices of $1,285 PSF to $1,438 sold for $271 million, which meant each PSF for units at the existing property. of the 78 owners reaped between With that much supply available in $2.68 million to $4.77 million. That the market, how can each property comes up to approximately $1,885 stand out? Some may have a lead PSF. A joint venture between SingHaiyi in terms of land area, some in their Properties and Huajiang International value-for-money, and some in terms of Corporation won the bid. location. Situated in the prime district Situated on How Yi Drive, just a 10 on Grange Road, Spring Grove 5-minute walk away from Bartley MRT condominium has location as its main Station, this is yet another example plus point. It is nestled in the exclusive of “location is king”. Though it is not The success of recent en bloc sales residential areas of Chatsworth road necessary near the city centre, the area has boosted confidence all around. and Bishopsgate. The Orchard Road is primed for new developments. The Developments which have previously shopping belt and Central Business 140,046 sq ft site cost the developers tried their hand and failed at collective District is also in the vicinity. $1,325 PSF per plot ratio - a very sales are mustering up the courage to Though property analysts consider reasonable price for a site sized just try again. developments with asking prices right for its potential. Many HUDC buildings have been stretching beyond $1 billion as a bigger The condominium sits snug in ticked off the en bloc sales list, and challenge and risk for developers, quite a largely established district and private estates are following suit. a few have entered the market above with the upcoming Bidadari estate Spring Grove condominium on Grange the price line. Pine Grove and Braddell in the vicinity, it will have no lack of Road is making a second bid at the View have recently entered the market new amenities. Schools in the area collective sale process for $1 billion or with asking prices of $1.65 billion and include Maris Stella High, St. Gabriel’s more. Taking $1 billion as a base offer, $2 billion, respectively. Secondary and Paya Lebar Methodist Girls’ School (Secondary). More Chinese developers are buying up land here and the foreign presence in land bids has been growing stronger. For 3 months in a row, residential sites have been snapped up by entities with strong Chinese links. In May 2017, a Chinese consortium paid $1 billion for a residential site in Stirling Road. A month later, another paid $75.8 billion for a residential site in Hougang. And in July 2017, Citimac Industrial Complex was purchased by a buyer with links to a Chinese family.

92 93 SINGAPORE PROPERTY NEWS

Buzz of a new CBD in the west

100,000 new jobs and 20,000 new between Singapore and Kuala Lumpur. the redevelopment or rejuvenation homes. And that’s just the cream on There are concerns about whether of the current CBD. While Tampines top of the new Jurong CBD (Central a second central business district took longer than expected to become Business District) cake. will take off in a small country like a regional hub due to logistical and By 2040, there will be 360 hectares Singapore. But there are lessons to congestion issues, lessons learnt here in the Jurong Lake district filled with be learnt from cities with successful will be applied when planning to the new homes, commercial buildings, regional hubs – Parramatta in Sydney, JLD. waterfront retail and a good many Canary Wharf in London and Pudong Plans have already been made to more MRT stations. Under the in Shanghai. decentralise delivery points and the government’s master plan, the Jurong There is hope for a symbiotic layout will be more open, to facilitate Lake District (JLD) will jumpstart relationship between the current a ‘car-light’ environment. Besides Singapore’s next economic phase. CBD and the new one. There is no high-rise offices and condominiums, Hopes are for it to mimic the Jurong expectation for an immediate boom there will also be a range of landed and Industrial Estate which kick started the in the Jurong Lake District. After all, low-rise properties with waterfront manufacturing sector 50 years ago. it took Pudong 20 years before its views. As far as planning goes, the A comprehensive transport network popularity began to surpass that of government seems to be on track in is in the works too - the High-Speed Puxi’s in Shanghai. planning for the targeted 6.9 million Rail terminus which will be completed Early and flexible planning will be population by 2030. in 2026 will optimise connectivity key in the development of the JLD and

Developers bid above trigger price for Beach Road site

Developers are sharpening their trigger price. The lowest bid at $1.138 stations. The former Beach Road acumen for land sales, residential and billion triggered the site for tender in Police Station stands on the site. The commercial, this year in particular. The July 2017. The 950,593 sq ft gross floor winning developer will need to plan for prime 99-year leasehold Beach road area site was on the reserve list of the conservation of the site plus build an commercial site which was triggered Government Land Sales programme. underground walkway to Bugis MRT for sale recently had a top offer entered 70% of the site needs to be allocated station. for $1.622 billion. The bid was lodged for office use. Property analysts are expecting an by GuocoLand units – GLL Prosper and The site sits on a sweet spot just on eventual rental recovery in the office GLL Thrive. the outskirts of the Central Business market. The expanding CBD will also This top bid, thus far, is in addition to District (CBD) but near enough extend into the Kallang River area, the other 4 offers which were already Bugis, City Hall and Esplanade MRT putting Beach Road in a prime district. registered. All 5 bids are well above the

94 PB INTERNATIONAL BRIEFS

A foreigner’s guide to investing in Singapore properties

Despite the limited land space due to the small size of the Lion City, therein lies several opportunities for core real estate investments of which values are expected to continuously appreciate over the next few years.

- JOEL TANG, Associate Director, Redbrick Mortgage Advisory

entails a question of ‘how-to-invest’ by foreign investors looking to tap into the market. If you are a foreigner wondering how to do so, here is a quick and easy 3-step guide:

STEP 1: Firstly, it is important to understand that there are no restrictions to buying commercial or industrial properties. However, for residential properties, they are categorised into those that are restricted and unrestricted Singapore has just retained, for for foreigners under Singapore’s better or worse, its title of the World’s Residential Property Act. Under this Most Expensive City for Expats Act, a foreigner is disallowed from for 4 consecutive years by the EIU acquiring the following properties (Economic Intelligence Unit) in 2017. unless he/she obtains the prior However, the high costs can be said approval from the Land Dealings to be, in a way, justifiable. The high Approval Unit (LDAU) from the standards of living which permeate Singapore Land Authority: through everyday life in Singapore • Vacant Residential Land and the availability of top jobs and • Landed Property companies setting base here are all • Landed Property in strata factors which have resulted in an developments which are not approved ever-increasing influx of expatriates condominium developments under relocating to the country. the Planning Act Every single submarket of Singapore’s real estate industry (with However, the following are non- the exception of the retail property restricted residential properties which market) has shown signs of rapid can be purchased under the aforesaid recovery after analysts have presumed Act: them to already currently bottom • Any apartment within a building out. As such, with counter-cyclical • Any unit in an approved condominium opportunities in abundance, this development under the Planning Act

PB 95 (Note: A foreign person is not allowed to 3. *Point to note: Stamp Duty: acquire all the apartments within a Stamp duty, in terms of buying, has building or all the units in an approved two types which are payable – condominium development without the buyer’s Stamp Duty (for all prior approval) properties) and Additional Buyer’s • A leasehold estate in restricted Stamp Duty (for residential residential property for a term not properties. exceeding 7 years, including any further a. Buyer’s Stamp Duty (BSD) term which may be granted by way of This is payable for all types of an option for renewal property purchased and based on the purchase price or the Based on this knowledge, one can market value of the property then decide on the market that he/she (also known as the ‘Base’, would invest in. This brings us to the whichever is higher. With a second step which involves contacting progressive rate of 1% to 3%, the an agent and consideration of costs: rates are as follows:

PURCHASE PRICE OR MARKET VALUE OF THE PROPERTY BSD RATES

STEP 2: First $180,000 1% Once a property has been aimed for, Next $180,000 2% or decided on and approved, one can REMAINING AMOUNT 3% should then approach a seller or an Source: Inland Revenue Authority of Singapore (IRAS) estate agent to express interest and reach an agreement on the price. Upon doing so, it is important to take note of b. Additional Buyer Stamp Duty the costs which are as follows: (ABSD) On the other hand, the ABSD 1. Option to Purchase (OTP) is payable only for the purchase Your lawyer will ask you to sign an of residential properties. The ‘Option to Purchase (OTP)’ - this costs calculation for it, like BSD, is based 1-5% of the property price and entitles on the purchase price or market you to an exclusive right to purchase value of the property, whichever the subject property within a period of is higher. However, should you be about 3 weeks. a foreigner (or permanent resident, for that matter), the 2. Sale and Purchase Agreement payable rates are as follows: Upon exercising the option, it is 1st RESIDENTIAL 2nd RESIDENTIAL 3rd & SUBSEQUENT imperative to understand the costs PROPERTY PROPERTY RESIDENTIAL PROPERTY involved. These costs include: Singapore NIL 7% 10% a. *Stamp duty (refer to point 3 for Citizens further info): up to 3% of property Permanent 5% 10% 10% value Residents Foreigners & b. Legal fees: basically fees for the 15% 15% 15% Entities property lawyer which costs about Source: IRAS 0.3% of the property price. c. Agent fees: typically about 1% Another point to take note of is the d. Registration fees for the fact that if a property is of mixed-use ownership title of the said type, then the ABSD is calculated via property the ‘Base’ which can be attributed to the residential component only.

96 97 INTERNATIONAL BRIEFS

STEP 3: projected taxable rental income, Finally, once the property has been under the ‘Rental Calculator’ section. successfully purchased, it is not the All-in-all, these are the main end yet! There are other unavoidable procedures and important things costs - annual taxes. There are 2 main to take note of should you desire to forms of taxes which one must take invest in properties in Singapore. note of: However, amidst all the applications, another essential step is to select 1. Property taxes the best financing options for your Besides all the other costs (and also property purchase. For that, in order maintenance costs), one has to pay an to save time on research, enquiries annual property tax as well. According and ultimately mitigate costs, it would to IRAS, this can be calculated as be wise to contact a Singapore-based follows: Annual property tax = Annual mortgage advisory company such as Value of property (AV) x Tax rate Redbrick (https://www.redbrick.sg/) payable. Now just to be clear, the AV to assist you in facilitating an efficient is an adjusted figure of the projected acquisition. annual rent that you could have earned from the property based on current market conditions. On the other hand, the tax rate payable is on a progressive basis of between 0 to 16%, depending on the AV of the property.

2. Taxation of Rental income The other taxation only applies if you actually earn rental income from the property you purchased. You have to declare the amount on your income tax return statement form, under the Joel started his career section of ‘Other income: rent from processing and underwriting property’. Nevertheless, this can be credit applications in a large calculated via the following formula: offshore bank in Singapore. Taxable Rental Income = Annual Rent - Shortly after, he progressed Deductible Costs. These costs include into a client advisory role as a mortgage specialist with the the following: interest paid on home belief that every client deserves loans, property taxes, fire insurance, the immaculate attention costs for maintenance and utility bills. and great service he enjoys Foreigners who spend at least 183 days delivering. of the tax year in Singapore will have to pay a progressive income tax rate of 0-20%, otherwise, the rental income is taxed at a flat rate of 20%. However, to make things easier, IRAS (Inland Revenue Authority of Singapore) has posted an excel sheet on their website (https://goo.gl/ K9sKLh) for this which enables you to simply key in the numbers for the

96 97 AGENT’S ADVICE

MONT KIARA: Where long term opportunities lie

The affluent township northwest of KLCC still holds many advantages over other prime areas within its league. Propstar Realty’s Director, Jerrie Chea, talks about the factors that keep Mont Kiara thriving.

In your opinion, where are the areas What are the advantages of purchasing Kiara get to enjoy access to some of that still hold good capital appreciation a property in Mont Kiara compared to the most established international potential in both primary and the other prime, more matured areas in schools and medical centres; while secondary market currently? Greater KL? shopping malls, grocery stores, restaurants and a golf club are just We are currently going through a There are a few factors that make within a stone throw away. To top that, price correction period across the up the advantages for purchasing a it is an upmarket neighbourhood with nation. Those that are mostly affected property in Mont Kiara compare to low crime rates, not many areas can are those located in the overheated other prestigious locations around KL compare to this. hotspots due to excessive supply, City. which will take longer digestive period. First of all, due to limited supplies – Are there future developments that are The suburbs of KL City such as Mont only one project was launched in 2016, expected to boost the property prices Kiara, Damansara Heights, Bangsar Icon Residence, while Arcoris in 2017 – and value in the area? and TTDI should hold well due to rental returns in Mont Kiara is generally limited supply, land limitation as well as stable, maintaining at an average of There are upcoming developments liveability factor. around 5% for the past few years. The in the area, such as the 70-acre KL Generally, properties around Greater large local population staying in Mont Metropolis, the 18-acre Solaris Parq, Kuala Lumpur with access to the Kiara also mitigate the risk of over the MRT circle line and the expansion new or future MRT lines such as the reliance on foreign expat. of Jalan Kiara 4, all of which will further /Jln Ipoh/Sentul stretch, as well Secondly, due to the relatively lower enhance the value of Mont Kiara and as Cheras/Kajang/Sg Besi will have average maintenance fees in Mont give rise to further capital appreciation. greater potential in the longer term. Kiara, in comparison to places like, KL Metropolis and Solaris Parq will We also need to take into account Damansara Heights, KLCC or Bangsar, provide new growth commercially the population growth around these the cost of ownership becomes quite as it comprises grade A offices as specific locations. affordable in a longer term. well as retail malls, giving rise to Certain areas could perform much Thirdly, Mont Kiara’s excellent demands in housing. The MRT circle better in terms of growth as compared amenities play an important role here. line will provide the connectivity that is to another location even if it is just Owners or tenants staying in Mont required to make Mont Kiara complete. across the highway within the same location.

98 PB

PROPERTY BELOW RM500K Kajang, Pangsapuri Damai Mewah B, Cheras, Dahlia Apartment, , , Juta Mines, Condominium, Apartment, SALE, RM 248,000, 3r2b, Apartment, SALE, RM 280,000, 3r2b, SALE, RM 278,880, 3r2b, BU901sqf, Y.H. BU957sqf, LA957sqf, Terence Tih, 017-668 BU850sqf, LA850sqf, Terence Tih, 017-668 Lee, 012-988 5523, E00000, UP5322392 2669, REN:01644, E(1)1537, UP5488821 2669, REN:01644, E(1)1537, UP4958136

Puchong, Sri Cempaka, Bandar Puchong Jaya, Flat, SALE, RM 280,000, 3r2b, BU810sqf, BRIAN CHEONG, 6012-288 1922, REN:02546, E(1)1670/3, Kajang, bandar teknologi, 1-sty Terrace/ Ampang, 8 Ampang Hilir Apartments, UP5518282 Link House, SALE, RM 281,000, 3r2b, Serviced Residence, SALE, RM 330,000, BU860sqf, Melvin kong, 012-632 9208, Studior, BU460sqf, Pierre Goh, 016-623 E00000, UP5679768 0966, E(1)1535, UP5681801

Cheras, Queensville, Bandar Seri Permaisuri, Condominium, SALE, RM 325,000, 1r1b, BU526sqf, Ms Eugene Goh, 6017-605 4800, REN:15531, E(1)1708, UP5650177

Ampang, Ampang Damai Condominium, , Semarak & Penaga Kepong, Kepong Central Condominium, Condominium, SALE, RM 350,000, 3r2b, BU960sqf, AL Bandar Baru Ampang, Condominium, condominium, Taman Raintree, Goh, 012-210 7725, E00000, UP5501121 SALE, RM 355,000, 3r2b, BU1118sqf, Alice Condominium, SALE, RM 370,000, Lim, 012-923 1025, REN:13342, E(1)1215/9, 4r2b, BU1206sqf, CK Yap, 017-882 2191, UP4886819 REN:11279, E(1)1584/2, UP2979323

Sungai Besi, Razak City, Serviced Residence, SALE, RM 358,000, 3r3b, BU800sqf, Eric Wang, Shah Alam, Menara U, Service Apartment, SALE, RM 368,000, 1+1r1b, BU622sqf, Hazlan, 6017-514 017-306 7772, REN:21222, E(1)1307, UP5712323 1600, REN:01619, E(1)0452/4, UP5351576

Setapak, Platinum PV 21, Serviced Shah Alam, Taman Subang Mas, Shop, Residence, SALE, RM 400,000, 2r2b, SALE, RM 400,000, BU1283sqf, LA1283sqf, BU900sqf, Eddy Soon, 011-3686 8618, E Pearly Yap, 012-327 5682, PEA:1340, (3) 0881, UP5638345 E(2)1064, UP5247805

Rawang, kota emerald west garnet, 2-sty Rawang, M Residence, Rawang, 2-sty USJ, Rhythm Avenue USJ 19, Subang Jaya, Apartment, SALE, RM 370,000, 3r2b, BU919sqf, Terrace/Link House, SALE, RM 440,000, Terrace/Link House, SALE, RM 448,000, Hazlan, 6017-514 1600, REN:01619, E(1)0452/4, UP5013562 4r3b, BU1583sqf, LA20X65sqf, angie ng, 4r3b, BU1620sqf, LA18x70sqf, Claire 017-311 1255/012-290 0443,E(3)15273, Choong, 012-320 2973, REN:23087, UP604021 E(1)0452, UP5392134

102 103 CLASSIFIEDS

Petaling Jaya, Pelangi Damansara Sentral, Kepong, 1-sty Terrace/Link House, SALE, Serviced Residence, SALE, RM 449,000, RM 430,000, 3r2b, BU1430sqf, LA22 x 2r2b, BU856sqf, Ashlynn Wong, 014-678 65sqf, Joey Hor, 016-263 1339, E(1)1685, 8966, REN:20555, E(1)0452, UP5568878 UP5709533

Klang, New Ful loan House nearby Setia Bangsar South, KL Gateway Residences, , Selayang Jaya, 2-sty Terrace/Link House, SALE, RM 420,000, 3r2b, LA14x60sqf, Alam at , 2-sty Terrace/Link House, Condominium, SALE, RM 500,000, 1r1b, Jeanson Aw Yong, 012-200 5507, E(3)1487, UP5689859 SALE, RM 499,000, 4r3b, BU1800sqf, Jim Tan, 019-212 8212, REN:19757, E(1)1509, LA20x70sqf, Rain Chung, 016-614 9173, UP5579335 E(3)1663, UP5316882

Dutamas, Changkat View, Condominium, RENT, RM PROPERTY @ KLANG 2,200, 3r2b, BU1100sqf, Kent Tan, 6016-387 7992, VALLEY REN:14670, E(3)1512, Petaling Jaya, Pelangi Damansara Sentral, UP5126422 Serviced Residence, SALE, RM 455,000, 2r2b, BU865sqf, Alice Lim, 012-923 1025, REN:13342, E(1)1215/9, UP3547161

Desa ParkCity, One Central Park, Desa Parkcity, Condominium, RENT, RM 3,300, 2+1r3b, BU1378sqf, Max Loo, 019-551 5566, , Palmville Resort REN:20326, E(1)1605, Bandar Sunway, A’Marine Condominium, Condominium, Condominium, RENT, RM UP5715928 Sunway, Condominium, RENT, RM 3,500, 2,500, 3r3b, BU1600sqf, Thomas Loh, 3+1r3b, BU1555sqf, Thomas Loh, 012-536 012-536 3176, REN:12724, E(1)0228/1, 3176, REN:12724, E(1)0228/1, UP4965793 UP5531871

City Centre, Menara Bangkok Bank, Ara Damansara, D’Aman Ria, Jalan Ampang, Office, RENT, RM 5,037, Condominium, SALE, RM 538,000, 3r2b, BU775sqf, Linda Ooi, 012-236 3065, E (1) BU1133sqf, Roger Kuek, 019-319 4766, 0501/14, UP5537866 REN:17903, E(3)1627, UP5648146

KLCC, The Troika , Condominium, RENT, Ampang, D’Pines@Ampang, Mont Kiara, SENI @ Mont Kiara, Condominium, RENT, RM 10,500, 4+1r5b, BU2906sqf, Grace Chin, RM 12,000, 3+1r4b, BU2505sqf, IM Global Condominium, SALE, RM 625,000, 012-659 8000, REN:24318, E(1)1344, UP5647304 Property Consultants, 012-227 6484, 4r2b, BU1400sqf, Hasnah, 012-243 8781, VE(1)0253, UP5670199 REN:03736, E(3)0503, UP5577820

Rawang, Emerald Rawang , 2-sty Terrace/Link House, SALE, RM 628,000, 3+1r4b, BU2078sqf, LA22x70sqf, Eric Wang, 017-306 7772, REN:21222, E(1)1307, UP5245483

Rawang, Emerald Rawang , 2-sty Terrace/Link House, SALE, RM 658,000, 3+1r4b, BU2088sqf, LA22x70sqf, Eric Wang, 017-306 7772, REN:21222, E(1)1307, Sungai Buloh, 518K, 2-sty Terrace/Link House, SALE, RM 518,000, 4r3b, UP5245499 BU1700sqf, LA20x70sqf, Thomas Tham, 016-302 6860, E(3)1612, UP5693523

102 103 Kepong, Plaza Menjalara, Bandar Sri Ara Damansara, Urbana Residences, Menjalara, Condominium, SALE, RM Condominium, SALE, RM 660,000, 2r2b, 640,000, 3r2b, BU1260sqf, Karen Nai, 012- BU807sqf, Joanne Khoo, 019-339 1132, 519 2878, E00000, UP5714848 E(1)1431, UP4970751

Ampang, Ukay Perdana Jalan UP 3/7B Ampang, 2.5-sty Terrace/Link House, SALE, RM 670,000, 4+1r4b, BU2800sqf, LA23x65sqf, Shane Khow, 6016-328 8646, REN:09703, E(3)1752/1, UP5324591

Bandar Sunway, DK Senza, Serviced City Centre, Setia SKY Residences, City Setapak, Jalan Mata Ayer Genting Klang, 2-sty Terrace/Link House, SALE, RM 690,000, 4r3b, Residence, SALE, RM 700,000, 3r2b, centre, Serviced Residence, SALE, RM BU2400sqf, LA22x80sqf, Shane Khow, 6016-328 8646, REN:09703, E(3)1752/1, UP4493589 BU1036sqf, LA1036sqf, Ewin Chew, 840,000, 1+1r1b, BU904sqf, LA904sqf, 012-266 7682, REN:10233, E(1)1026/3, Marcus Yee, 016-561 9596, REN:07229, UP5139948 E(3)0812, UP3711228

Taman Tun Dr Ismail, Glomac Damansara, City Centre, Setia SKY Residences, City Serviced Residence, SALE, RM 855,000, centre, Serviced Residence, SALE, RM 3r2b, BU1010sqf, Ernest Chuah, 6013-288 890,000, 2+1r3b, BU1055sqf, Angeline 3898, E(1)1572, UP4744629 Liew, 6013-227 3218, E(3)0812, UP3345170

City Centre, Setia SKY Residences, City Dutamas, Sutramas Luxury Condominium, Setapak, Sri Rampai 37 3sty House Setapak, 2.5-sty Terrace/Link House, SALE, RM 870,000, centre, Serviced Residence, SALE, RM Condominium, SALE, RM 880,000, 4r3b, 4+1r4b, BU2600sqf, LA24x60sqf, Shane Khow, 6016-328 8646, REN:09703, E(3)1752/1, 900,000, 2+1r3b, BU1055sqf, LA1055sqf, BU1600sqf, Jasmine Yap, 012-399 5574, UP4435245 Marcus Yee, 016-561 9596, REN:07229, E(1)1670, UP5662692 E(3)0812, UP2829150

Kuchai Lama, Jalan Selesa Happy Garden, 2-sty Terrace/Link House, SALE, RM 928,000, 5r3b, BU2300sqf, Alexis Yeong, Bandar Sunway, A’Marine Condominium, 016-949 8999, E(1)1492, City Centre, Setia SKY Residences, City Sunway, Condominium, SALE, RM UP5553721 centre, Serviced Residence, SALE, RM 920,000, 3+1r3b, BU1532sqf, Thomas 1,000,000, 2+2r3b, BU1281sqf, Angeline Loh, 012-536 3176, REN:12724, E(1)0228/1, Liew, 6013-227 3218, E(3)0812, UP4210244 UP5363552

City Centre, Setia SKY Residences, City Mont Kiara, Sunway Mont Residences, City Centre, Setia SKY Residences, City City Centre, Setia SKY Residences, City centre, Serviced Residence, SALE, RM Condominium, SALE, RM 1,080,000, centre, Serviced Residence, SALE, RM centre, Serviced Residence, SALE, RM 1,050,000, 2+2r3b, BU1313sqf, LA1313sqf, 2+1r2b, BU1122sqf, Richard Ong ZW, 1,100,000, 2+2r3b, BU1313sqf, LA1313sqf, 1,100,000, 2+2r4b, BU1313sqf, Angeline Marcus Yee, 016-561 9596, REN:07229, 6011-2100 2686, PEA:1096, E(1)1307, Marcus Yee, 016-561 9596, REN:07229, Liew, 6013-227 3218, E(3)0812, UP4551038 E(3)0812, UP2424842 UP5580147 E(3)0812, UP4191563

Ampang, Ukay Perdana, 2-sty Terrace/Link House, SALE, RM 1,100,000, 5r4b, BU2300sqf, LA1760sqf, Linda Ooi, 012-236 3065, E Mont Kiara, Kiaramas Sutera, (1) 0501/14, UP5581505 City Centre, Setia SKY Residences, City Condominium, SALE, RM 1,120,000, centre, Serviced Residence, SALE, RM 3+1r3b, BU1840sqf, Ean Goon, 6012-403 1,150,000, 3+1r4b, BU1701sqf, Angeline 2203, REN:02044, E(1)1652, UP5458791 Liew, 6013-227 3218, E(3)0812, UP2549555

104 105 CLASSIFIEDS

Kajang, Semi D, Sungai Long, Semi-detached House, SALE, RM 1,198,000, 6+1r4b, LA42x72sqf, Ray Lee, 016-333 8132, City Centre, Setia SKY Residences, City City Centre, Setia SKY Residences, City E(3)1381, UP5538263 centre, Serviced Residence, SALE, RM centre, Serviced Residence, SALE, RM 1,260,000, 3+1r4b, BU1701sqf, LA1701sqf, 1,288,000, 3+1r4b, BU1701sqf, Angeline Marcus Yee, 016-561 9596, REN:07229, Liew, 6013-227 3218, E(3)0812, UP4536081 E(3)0812, UP4191943

City Centre, Crown Regency, Kuala Lumpur City Centre, Serviced Residence, SALE, RM 1,250,000, 3+1r3b, BU1600sqf, William Lua, , Bandar Utama 11, BU11, Damansara, 1-sty Terrace/Link House, 010-823 7788, E00000, 2-sty Terrace/Link House, SALE, RM SALE, RM 1,300,000, 3+1r3b, LA1870sqf, UP5698472 1,290,000, 4r3b, BU2300sqf, LA22x75sqf, Julian Lee, 019-608 3393, REN:22338, Christine Quek, 016-322 8377, REN:04146, E00000, UP5702528 VE(1)0188, UP5165600

Sunway SPK, Sunway SPK Damansara, Bandar Utama, 9 Bukit Utama Kepong, 2-sty Terrace/Link House, Taman Tun Dr Ismail, 2-sty Terrace/Link Klang, Taman Saujana, Semi-detached Condominium, Bukit Utama 1, SALE, RM 1,780,000, 4+1r3b, BU2798sqf, House, SALE, RM 2,250,000, 4+1r3b, House, SALE, RM 1,500,000, 5r5b, Sharon Condominium, SALE, RM 1,300,000, LA32x75sqf, Kent Chua, 6016-280 7420 BU3000sqf, LA30x95sqf, Kelly Kong, Liew, 012-661 4768, REN:23411, E(1)1501, 4+1r4b, BU2286sqf, Lois Tan, 017-370 / 6012-238 7457, REN:06899, E(1)1670/3, 6019-335 9337, REN:00421, E(1)1584, UP5530369 3868, REN:21471, E(3)1624, UP5210290 UP4799660 UP4559692

Wangsa Maju, section 6 wangsa Mont Kiara, SENI @ Mont Kiara, maju, Semi-detached House, SALE, Condominium, SALE, RM 2,400,000, RM 2,900,000, 6+1r6b, BU4500sqf, 4+1r6b, BU2906sqf, James Lai, 6016-311 LA6996sqf, Elvie Ho, 012-303 3788, 6092, REN:00468, E(1)1283/2, UP4764791 REN:22102, E(1)0452/1, UP5578858

USJ, usj 1, Semi-detached House, SALE, RM 2,000,000, 6+1r6b, BU3835sqf, LA4520sqf, Ng Cin, 012-663 7588/017-649 1283, REN:18766, E(3)0050/2, UP5168854

Damansara Heights, Semi-detached House, SALE, RM 4,300,000, 9r5b, BU5000sqf, LA5175sqf, AL Goh, 012-210 7725, E00000, UP5514125

Tropicana, Tropicana pool Villa, Semi-detached House, SALE, RM 5,800,000, 10r8b, LA7000sqf, Grace Chooi, 6010-900 3980, REN:03565, E(3)0684, UP5559883

Ara Damansara, Ara Damansara 3Adj 3sty Damansara, damansara, shop, Shop-Office, SALE, RM 8,200,000, Bungalow House, SALE, RM 11,300,000, Ampang Hilir, U-Thant, Bungalow House, SALE, RM 50,000,000, 8+1r10b, BU22000sqf, 18b, BU20200sqf, LA81x75sqf, Joe chua, 9r9b, BU16000sqf, LA11700sqf, Dominic LA30000sqf, Carl Friis, 012-286 5586, REN:01695, E(1)1007, UP5221677 013-350 9010, REN:04190, E(1)0990/2, Ong, 6016-470 9151, REN:03165, UP5518390 E(1)1626/1, UP4730937

104 105 PROPERTY OUTSIDE

KLANG VALLEY Iskandar Puteri (Nusajaya), East Ledang KL City, kuala lumpur, Bungalow House, , Industrial Land, SALE, RM Terrace House, 2-sty Terrace/Link House, SALE, RM 18,000,000, 6r6b, BU13395sqf, 18,688,000, 1r1b, LA6sqa, Grace Wong, RENT, RM 2,200, 4r3b, BU2680sqf, LA11000sqf, Dominic Ong, 6016-470 9151, 019-222 8631, E(1)1307, UP5593361 LA26x70sqf, Ivan Kang, 6013-331 0131, REN:03165, E(1)1626/1, UP4737259 REN:05368, E(3)0131, UP4089688

Iskandar Puteri (Nusajaya), taman nusa sentraljalan sentral 18, Semi- detached House, SALE, RM 1,300,000, 4r3b, BU1540sqf, LA5200sqf, Johor Bahru, Nusa Perdana Apartment, Masai, Bandar Seri Alam, Bandar Seri Stephanie Yoong, Gelang Patah, Apartment, SALE, RM Alam, Flat, SALE, RM 193,000, Studior1b, 012-518 5496, E(2)1621, 260,000, 3r2b, BU900sqf, Chris Ng, BU403sqf, Terence Kho, 011-1039 3830, UP5439208 016-784 0505, REN:19505, VE(1)0134/3, E00000, UP5663168 UP5646027

Johor Bahru, Pan Vista , Bandar Baru Iskandar Puteri (Nusajaya), Sky View, Johor Bahru, Greenfield Regency, Johor Bahru, Tropez Residences, Danga Permas Jaya, Condominium, SALE, RM Bukit Indah, Service Apartment, SALE, RM Condominium, SALE, RM 400,000, 3r2b, Bay, Condominium, SALE, RM 405,000, 328,000, 3r2b, BU1000sqf, LA1000sqf, 418,000, 2r2b, BU871sqf, Julie Yew, 010- BU941sqf, Ivan Kang, 6013-331 0131, 1+1r1b, BU689sqf, Yvonne Lim, 016-717 Tomato Loh, 019-750 5088, REN:00425, 666 0112, E(1)1307/4, UP5535067 REN:05368, E(3)0131, UP5638438 9657, REN:21583, E(2)1621, UP5651929 E(3)0928, UP5622666

Johor Bahru, Bukit Indah nusajaya jalan indah, 2-sty Terrace/Link House, SALE, RM 610,000, 4r3b, LA20x65sqf, Teo YS, Johor Bahru, Taman Mutiara Mas, 017-841 6450, E(1)1605/1, Johor Bahru, Taman Mount Austin, Semi- Cluster Homes, RENT, RM 1,800, 4+1r4b, UP5656222 detached House, SALE, RM 1,600,000, BU2765sqf, LA32x65sqf, Ivan Kang, 5r4b, BU3000sqf, LA40x80sqf, Weinie 6013-331 0131, REN:05368, E(3)0131, Chon, 012-717 1600, E(1)1605/1, UP5718611 UP5466547

Setia Tropika, kempas, 2-sty Terrace/Link House, SALE, RM 550,000, 4r3b, BU1493sqf, LA20 x 70sqf, Stephanie Yoong, 012-518 5496, E(2)1621, UP5602461 Setia Tropika, kempas, 2-sty Terrace/Link Johor Bahru, Nusa Idaman Bukit Indah, House, SALE, RM 650,000, 4r3b, LA22 2-sty Terrace/Link House, SALE, RM x 80sqf, Stephanie Yoong, 012-518 5496, 675,000, 4r, LA22x70sqf, Teo YS, 017-841 E(2)1621, UP5602563 6450, E(1)1605/1, UP5656623

Johor Bahru, Bukit Indah/Nusa idaman/ Masai, Taman Rinting Seri Alam Masai, Setia Indah, Taman Setia indah Jalan Setai Johor Bahru, bukit indah , 2-sty Terrace/ horizon hills, 2-sty Terrace/Link House, 2-sty Terrace/Link House, SALE, RM , 2-sty Terrace/Link House, SALE, RM Link House, SALE, RM 580,000, 4r3b, SALE, RM 590,000, 4r3b, LA20x70sqf, 360,000, 4r1b, BU2520sqf, LA42x60sqf, 498,000, 4r3b, LA18x65sqf, Teo YS, 017- LA20x70sqf, Chris Ng, 016-784 0505, Lee Yun Feng, 018-770 6416, E00000, Teo YS, 017-841 6450, E(1)1605/1, 841 6450, E(1)1605/1, UP5649544 REN:19505, VE(1)0134/3, UP5646007 UP5492346 UP5683782

Iskandar Puteri (Nusajaya), Tampoi, Taman Perling, Bukit Indah D’Grande, Semi-detached House, Semi-detached House, SALE, RM 808,000, 4r3b, RENT, RM 3,500, 4+1r3b, BU4613sqf, LA4613sqf, BU3200sqf, LA40x80sqf, Tomato Loh, 019-750 Ivan Kang, 6013-331 0131, 5088, REN:00425, REN:05368, E(3)0131, E(3)0928, UP5509362 UP5477817

Permas Jaya, CO2 Johor Bahru, Taman Senibong Cove Isola Villa, Kebun Teh @ JB , Link Bungalow, RENT, RM Bungalow House, SALE, 6,500, 5+1r7b, BU3881sqf, RM 1,200,000, 5r3b, LA3600sqf, Wong Tuck LA7000sqf, Tomato Loh, Loke, 019-777 6315, 019-750 5088, REN:00425, E(1)1533, UP5607054 E(3)0928, UP5622402

106 107 CLASSIFIEDS

Tebrau, desa tebrau, Link Bungalow, SALE, RM 1,600,000, 4+1r5b, BU3800sqf, LA5999sqf, Iskandar Puteri (Nusajaya), Taman Bukit Stephanie Yoong, 012-518 Indah 28, 1.5-sty Terrace/Link House, 5496, E(2)1621, UP5410232 Johor Bahru, D’Summit Residences, SALE, RM 508,000, 4r3b, LA1560sqf, Service Apartment, RENT, RM 1,500, 2r2b, Joseph Ong, 014-963 9785, E(2)1621, BU764sqf, Joseph Ong, 014-963 9785, UP5684219 E(2)1621, UP5707847

Ulu Tiram, Taman Pelangi Skudai, Taman Impian Indah, 2-sty Terrace/Link Emas, 2.5-sty Terrace/Link House, SALE, RM 688,000, House, SALE, RM 688,000, 4r3b, LA22x80sqf, Ang 5r3b, Tomato Loh, 019- Liang, 016-297 9991, 750 5088, REN:00425, E(1)1307/4, UP5707341 E(3)0928, UP5660646

Johor Bahru, jalan mutiara emas 9/13, 2-sty Terrace/ Link House, SALE, RM 560,000, 4r3b, LA20 x 65sqf, Stephanie Yoong, 012-518 5496, E(2)1621, Gelang Patah, Taman Perindustrian Iskandar Puteri (Nusajaya), Horizon UP5392852 Nusa Cemerlang, Semi- D factory, RENT, Hills The Hills Precint, Bungalow House, RM 25,000, BU31000sqf, LA32000sqf, SALE, RM 5,180,000, 4+1r3b, BU5700sqf, Tomato Loh, 019-750 5088, REN:00425, LA16100sqf, Ivan Kang, 6013-331 0131, E(3)0928, UP5333773 REN:05368, E(3)0131, UP5655923

Skudai, Taman Seri Orkid,Skudai, Johor Tebrau, bandar dato onn, jalan perjiranan Masai, Seri Alam Jalan Bayu 3 Lot, Shop- Johor Bahru, D’Summit Residences, Bahru, Shop-Office, SALE, RM 250,000, 11/31, Semi-detached House, SALE, RM Office, SALE, RM 680,000, BU7233sqf, Service Apartment, RENT, RM 1,600, 3r2b, 2b, BU1540sqf, LA1540sqf, Tomato Loh, 998,000, 6r6b, BU2871sqf, LA3358sqf, Tomato Loh, 019-750 5088, REN:00425, BU904sqa, Joseph Ong, 014-963 9785, 019-750 5088, REN:00425, E(3)0928, Stephanie Yoong, 012-518 5496, E(2)1621, E(3)0928, UP5588280 E(2)1621, UP5583879 UP4716954 UP5583488

Benut, Commercial Land, SALE, RM 3,267,000, BU130680sqf, LA130680sqf, Tomato Loh, 019- Johor Bahru, Setia Sky 88, johor bahru, Condominium, RENT, RM 3,300, 3r2b, BU1238sqf, Chris 750 5088, REN:00425, E(3)0928, UP5366152 Ng, 016-784 0505, REN:19505, VE(1)0134/3, UP5645986

Johor Bahru, D’Summit Residences, Service Apartment, RENT, RM 880, 1r1b, Joseph Ong, 014- Johor Bahru, D’Summit Residences, Service Apartment, RENT, RM 1,100, 1r1b, BU527sqf, Joseph 963 9785, E(2)1621, UP5606415 Ong, 014-963 9785, E(2)1621, UP5550197

106 107 Johor Bahru, Resort Detached Factory at Senai Johor Bahru, Detached factory, SALE, RM Johor Bahru, D’Summit Residences, Service Apartment, RENT, RM 1,350, 2r2b, BU764sqf, Joseph 15,850,080, 4b, BU58704sqf, Ms. Lesley Siang, 013-713 6222/012-766 7738, REN:17935, E(3)1753, Ong, 014-963 9785, E(2)1621, UP5550487 UP5665137

Gelang Patah, Leisure Farm Resort, Residential Land, SALE, RM 5,180,908, LA43906sqf, Ivan Ulu Tiram, Taman Pelangi Indah , Semi-detached House, SALE, RM 908,000, 4r3b, LA50 X 80sqf, Kang, 6013-331 0131, REN:05368, E(3)0131, UP3942698 Tomato Loh, 019-750 5088, REN:00425, E(3)0928, UP5641799

Masai, Senibong Cove, Semi-detached House, SALE, RM 1,780,000, 4+1r6b, BU3687sqf, Setia Indah, Johor Bahru, 1-sty Terrace/Link House, SALE, RM 520,000, 3r2b, BU1400sqf, LA42x75sqf, Wilson Chea, 012-719 2468, E(1)1307, UP5171308 LA2800sqf, Wilson Chea, 012-719 2468, E(1)1307, UP5581669

Johor Bahru, taman perling, d’sersmbi, 2-sty Terrace/Link House, SALE, RM 950,000, 4r3b, Johor Bahru, Taman Perling, 2-sty Terrace/Link House, SALE, RM 950,000, 4r3b, BU2725sqf, BU2725sqf, LA2556sqf, Wong Tuck Loke, 019-777 6315, E(1)1533, UP5662913 LA2556sqf, Jason Tan, 019-667 2616, REN:23533, E(1)1533, UP5645473

108 109 CLASSIFIEDS

Klebang, Marina Point, Ayer Keroh, Bayou Lagoon Malacca New Launch, Park, Malaysia Han Studies, Tanjong Kling,, Retail Semi-detached House, Space, SALE, RM 190,000, SALE, RM 765,000, 5+1r4b, BU147sqf, Angye Ng, BU3495sqf, LA4050sqf, 6012-512 9662 / 6017-300 Daniel Pow, 016-557 3125, 6665, REN:07928, E(1)1501, E(1)1605, UP4948410 UP5462077

Batu Berendam, Taman Sutera Wangi , Semi-detached House, SALE, RM 522,000, 4r3b, Batu Berendam, Taman Sutera Wangi , Semi-detached House, SALE, RM 522,000, 4r3b, BU2400sqf, LA40x100sqf, Ju Teoh, 017-303 0501, REN:17379, E(1)1670, UP5621712 BU2400sqf, LA40x100sqf, Ju Teoh, 017-303 0501, REN:17379, E(1)1670, UP5625376

Port Dickson, D’Wharf Residence, PD Waterfront, Serviced Residence, SALE, RM 550,000, 2+1r2b, BU900sqf, Tay Zhi Yang, Nilai, Bandar Baru Enstek DS Shop Seremban, S2, 2-sty Terrace/Link House, 012-658 3890, E(1)1670, Office, Shop-Office, SALE, RM 1,300,000, SALE, RM 495,000, 4r3b, BU1933sqf, UP5262475 2b, BU3191sqf, LA22 x 75sqf, Transasia LA1400sqf, Janice Loh, 012-691 6116, Property Consultancy Sdn Bhd, 6019-220 REN:07217, E(1)1197/6, UP5600409 5961, REA:1981, VE(1)0187, UP2603606

Seremban, TAMAN Seremban, 2-sty Terrace/ BELIMBING PERDANA Link House, SALE, SEREMBAN, 2.5-sty RM 378,000, 4+1r3b, Terrace/Link House, BU2062sqf, LA20 x70sqf, SALE, RM 628,000, 5r4b, Lester Yap, 012-380 8901, BU2680sqf, LA1540sqf, E(1)1752, UP5581038 Khairul, 017-896 8983, E(1)1321/14, UP5668980

Tanjong Tokong, Andaman Quayside, Relau, land sungai ara , Residential Condominium, SALE, RM 2,650,000, Land, SALE, RM 28,000,000, LA6.71sqa, 2+1r2b, BU2046sqf, Molly Lee, 012-323 Dominic Ong, 6016-470 9151, REN:03165, 1610, REN:05872, E(3)0262, UP5637579 E(1)1626/1, UP2207202

Butterworth, De Centro, Apartment, SALE, RM 425,000, 3r2b, BU1375sqf, SH Koay, 011-1095 8731, E(3)0256, UP5519797

Kampar, Uni Suites, Taman Bandar Baru, Kota Kinabalu, Delta Heights, Apartment, Georgetown, Sri York Condominium, Condominium, SALE, RM 1,370,000, 4r3b, BU2120sqf, Apartment, SALE, RM 87,200, Studior1b, RENT, RM 800, 2+1r1b, BU830sqf, Abby Janice Cheong, 012-401 7417, REN:07523, E(3)0510, UP5179655 LA135sqf, CK Yuen, 012-596 9996, Tan, 017-261 6216, REN:20757, E(3)0637, REN:13100, E(1)1526/1, UP5412250 UP5719987

108 109 Batu Ferringhi, Ferringhi Park @ Batu Ferringhi, Bungalow House, SALE, RM 2,350,000, 5+1r4b, Batu Ferringhi, Ferringhi Park @ Batu Ferringhi, Bungalow House, SALE, RM 2,900,000, 4+1r4b, BU4300sqf, LA5597sqf, Peggy Eng, 010-299 8101, E(1)1052/4, UP5505993 BU2673sqf, LA6770sqf, Peggy Eng, 010-299 8101, E(1)1052/4, UP5255851

SHAH ALAM

Kota Kinabalu, Seri Manis, Condominium, Kota Kinabalu, Menara MAA Signature Taman Desa, Desa Green, Service SALE, RM 720,000, 3r2b, BU1408sqf, Office, Office, RENT, RM 4,625, 4+1r2b, Apartment, RENT, RM 1,900, 2r2b, Vivian Abby Tan, 017-261 6216, REN:20757, BU1927sqf, Abby Tan, 017-261 6216, Tam, 012-373 6746, E(1)1605, UP5640647 E(3)0637, UP5714184 REN:20757, E(3)0637, UP5720122

Alam Impian, 2-sty Terrace/Link House, SALE, RM 1,450,000, 4r4b, BU3300sqf, LA4800sqf, Klang, Meru , Factory, SALE, RM 2,358,000, BU6017sqf, LA26x170sqf, LC David Ho, 017-305 0815, REN:17161, E(1)1707/1, UP5691132 Chieng, 019-262 4811, REN:3154, E(1)0452/7, UP5595282

Puchong, Office, RENT, RM 19,500, 1r8b, BU11871sqf, PUCHONG LA41x80sqf, Grace Wong, 019-222 8631, E(1)1307, Bukit Jelutong, High Exposure, Bukit UP5595535 Jelutong Industrial Park, Factory, SALE, RM 19,800,000, BU16100sqf, LA1.6sqf, Jake Ching, 012-233 3118, REN:01575, E(1)1492, UP5499537

Damansara Perdana, Metropolitan Square, Bandar , Condominium, RENT, RM Puchong, X2 Residency, Condominium, SALE, RM 670,000, 4+1r5b, BU2415sqf, Eric Wang, 017- 1,800, 3r2b, BU957sqf, Kent Tan, 6016-387 7992, REN:14670, E(3)1512, UP5595347 306 7772, REN:21222, E(1)1307, UP4651819

110 111 CLASSIFIEDS

Cyberjaya, CYBER HEIGHTS VILLA, Condominium, RENT, RM CHERAS 1,700, 4r2b, BU1903sqf, Fan Wen Lok, 016-527 8403, REN:08467, Cheras, Bungalow House, SALE, RM E(3)0215, UP5509801 1,900,000, 5r4b, BU4000sqf, LA4900sqf, Wilson Kwang, 012-917 6328, REN:12127, EPM(3)0002, UP5717343

Balakong, bukit belimbing,balakong,Cheras,Jln Kpb, taming jaya balakong, Detached factory, SALE, RM 14,000,000, 6r8b, BU23600sqf, LA42730sqf, Scott Tan, 016-370 2211, E(1)1708, UP5483707

Cheras, The Peak, 3-sty Terrace/Link House, SALE, RM 1,500,000, 5+1r5b, BU3600sqf, LA22’x75’sqf, Max Loo, 019-551 5566, REN:20326, E(1)1605, UP5711127

PETALING JAYA

Cheras, Maxim Residences, Condominium, Cheras, Taman Seagar, 3-sty Terrace/Link House, SALE, RM 1,380,000, 5+1r5b, BU3600sqf, RENT, RM 1,200, 2r2b, BU850sqf, Kent LA22’x75’sqf, Max Loo, 019-551 5566, REN:20326, E(1)1605, UP5715942 Tan, 012-637 8528, REN:19050, E(1)1635, UP5574171

Petaling Jaya, Riana Green Condominium, Tropicana, Condominium, SALE, RM 800,000, 2+1r2b, BU1281sqf, Goh Lun Hong, 017-235 9415, E00000, UP5691584

Petaling Jaya, 3 Two Square, Office, SALE, RM 20,000,000, BU25373sqf, LA46x96sqf, Grace Wong, 019-222 8631, E(1)1307, Petaling Jaya, , 2-sty Terrace/Link House, SALE, RM 1,350,000, 5r4b, BU2500sqf, UP5593391 LA23x75sqf, AL Goh, 012-210 7725, E00000, UP5504328

Petaling Jaya, Seksyen 17, Semi-detached House, SALE, RM 2,200,000, 3+2r4b, BU3000sqf, Bandar Utama, Petaling Jaya, 2-sty Terrace/Link House, SALE, RM 1,800,000, 4+2r5b, LA6928sqf, Linda Ooi, 012-236 3065, E (1) 0501/14, UP5581395 LA282.1373, AL Goh, 012-210 7725, E00000, UP5501054

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