MAKE BETTER DECISIONS FRIDAY JANUARY 22, 2016 ISSUE 2092/2016 A PULLOUT EVERY FRIDAY WITH Read this copy online @ TheEdgeProperty.com MAKE BETTER DECISIONS PP 9974/08/2013 (032820) ep3 NEWS ep4 NEWS ep5 DEALMAKERS Property prices to Property-related For love consolidate further, industries to see slow and money says economist but steady growth Go to TheEdgeProperty.com to download this and past issues of The Edge Property pullout. WATERFRONT property lure Penang island’s non-landed seafront homes lead the market in terms of value. See story on pages ep6 & 7. CONTINUES ON EP6 THE EDGE FILE PHOTO FRIDAY JANUARY 22, 2016 • THEEDGE FINANCIAL DAILY EP2 PROPERTY | NEWS Go to TheEdgeProperty.com for more property news MOST READ ON NEWS ROUNDUP TheEdgeProperty.com Felda and Encorp to jointly sition of Yuten Development Sdn dram, noted that there is no harm develop township in Melaka Bhd, which is party to a joint-ven- in using websites or apps to pro- ture agreement to develop 128 high- mote a product for advertising pur- end residential units on 1.2 acres poses, but if transactions are made of land on Jalan U-Th ant. and commissions received, then it In a filing with Bursa Malay- means that the law has been broken. sia on Jan 19, the garment maker- Faizan said only registered real turned-property developer said it, estate agents as specifi ed in Section and Yuten vendors (Sia Chien Vui, 22C of the Valuers, Appraisers and Datuk Seri Lee Ee Hoe and PTS Estate Agents Act can act as agents Shrinking review application fi led by the lot Properties Sdn Bhd) had agreed in selling, purchasing, letting or shopping crowds owners of the Ampang Park Shop- to mutually terminate the Yuten renting any property. a challenge for ping Centre, according to Th e Ma- share sale agreement. London-themed Hyde retail REITs The Federal Land Development laysian Insider. Th is follows the conditional ap- Authority (Felda) and Encorp Bhd Th e owners had fi led for a judi- proval letter from the Kuala Lumpur Tower to be unveiled in entered into a memorandum of cial review of the federal govern- City Council for the project, which i-City next month DONE DEAL: Unit agreement on Jan 20 to develop an ment’s approval of the acquisition stipulates a lower density than that I-Berhad, the master developer at 10 Mont’Kiara integrated township in Melaka with of the site of shopping mall for the of the condition precedent to the of i-City in Shah Alam, will unveil condominium, a gross development value (GDV) construction of the Ampang Mass Yuten share sale agreement. Hyde Tower, a residential block with Mont’Kiara, KL of RM3.2 billion. Rapid Transit station. a view over the CentralPlaza@i-City Encorp subsidiary, Encorp Bukit Lawyer for the plaintiff s, Jason Internet and social Shopping Mall, in February. Katil Sdn Bhd, will be the master Ng, said the High Court had also media used to market Hyde Tower will have 43 sto- Johor to see developer of the township. granted an interim stay against the properties illegally reys of apartment units of between ‘good buys’ in Th e township will be on a 640.98- land administrators from possess- Illegal property brokers and mar- 465 sq ft and 769 sq ft in built-up 2H2016 acre leasehold tract in Bukit Katil, ing the land or dealing with it. keting companies are turning to area, fully fi tted and furnished in Ayer Keroh, close to the Ayer Keroh He said it was unclear how long websites and apps to encourage a contemporary London-themed toll plaza and Bandar Hilir Melaka. the interim stay would apply, but landlords to use their services in- interior design. Klang Valley Construction of the three-phase would be asking for an extension stead of real estate agents, said the In a statement on Jan 18, I-Ber- offi ce rental development will start in 1Q2017 during case management on Feb 29. Board of Valuers, Appraisers, and had said Hyde Tower will have growth to be and is expected to be completed At least 62 land owners had Estate Agents Malaysia (Bovaea). 1-bedroom and 2-bedroom units under pressure in 14 years. sought the judicial review on Jan 8. BOVAEA president, Faizan Ab- as well as a choice of standard and over next Th e project comprises a 307.67- At least 100 shop owners and dul Rahman said at a press confer- duplex layouts. It is also the only acre residential development, and tenants are protesting the MRT ence on Jan 19 that this trend has development on this parcel to off er two years a 76.92-acre commercial devel- pedestrian walkway scheduled to increased in view of the current dual-key units on selected fl oors. opment of shop offi ces, commer- be built by MRT Corp underneath challenging market. Meanwhile, I-Berhad Group’s cial plots and petrol kiosks, among the 42-year-old mall. Th is new threat was discovered joint-venture company, Central others. Th e underground walkway re- during a six-month campaign Plaza i-City Real Estate Sdn Bhd, Th e remaining 256.39 acres are quires that the mall be demolished. dubbed C.A.M.P (Cheating, Ab- will commence work on its 1.5-mil- reserved for public amenities, such MRT Corp had given Ampang sconding, Misinterpretation and lion sq ft CentralPlaza@i-City shop- as schools, a hospital, mosque and Park owners two options: sign a Profi teering), the four main methods ping mall. The Edge Communications Sdn Bhd police station. mutual agreement with the project used by illegal brokers. C.A.M.P was Th e development is a 60:40 join (266980-X) Present at the signing ceremony owner or acquiesce to the land ac- launched last August by BOVAEA. venture between leading Th ai retail Level 3, Menara KLK, No 1 Jalan PJU 7/6, were Felda and Encorp chairman quisition process. “We have even discovered one property developer, Central Pattana Mutiara Damansara, 47810 Petaling Jaya, Selangor, Malaysia Tan Sri Mohd Isa, Felda director highly recognised public-listed Pcl (CPN) and I-Berhad. Datuk Hanapi Suhada and Encorp Yong Tai aborts plans for company in the information tech- Central Plaza i-City Real Estate executive committee chairman RM168 mil condo project nology industry that had started has awarded Pintaras Jaya Bhd Publisher and Group CEO Ho Kay Tat Datuk Zakaria Nordin. Yong Tai Bhd has aborted a joint a property portal to promote and wholly owned subsidiary, Pintaras venture to develop a luxury ser- sell a developer’s product, and re- Geotechnics Sdn Bhd, the piling Editorial For News Tips/Press Releases MRT acquisition of viced apartment project on Jalan ceived fees for the transactions,” and basement structural works Tel: 03-7721 8219 Fax: 03-7721 8038 Ampang Park land subject U-Th ant in Kuala Lumpur with a said Bovaea chairman, Eric Lim, for the mall. Email: [email protected] to judicial review GDV of RM168 million. at the press conference. With an estimated GDV of Th e Kuala Lumpur High Court on Th is follows its decision not to Bovaea committee member for RM850 million, the shopping mall Senior Managing Editor Azam Aris Contributing Editor Sharon Kam Jan 20 granted leave for a judicial proceed with the proposed acqui- estate agency practice, K Soma Sun- is expected to open in August 2018. Editor Rosalynn Poh Deputy Editors E Jacqui Chan, Wong King Wai Assistant Editor Lam Jian Wyn Senior Writer Racheal Lee If you have any real estate-related events, email us at [email protected]. Writers Chai Yee Hoong, LAUNCHES & EVENTS Events listed here will also appear on TheEdgeProperty.com. Rachel Chew, Hannah Rafee, Tan Ai Leng, Natalie Khoo, Ewe Shufei Art Director Sharon Khoh Nusa Sentral Lunar New Year The Base Park East — Sukhumvit property investment, and explain Design Team Cheryl Loh, Night Bazaar 77. The 27-storey condominium how the Fire Monkey Year will Valerie Chin, Aaron Boudville, Date: Jan 15 to Feb 5 off er units of between 26 sq aff ect an individual based on Aminullah Abdul Karim, Venue: Jalan Sentral m and 48.5 sq m in built-up the BaZi astrology chart. Yong Yik Sheng, Tun Mohd Zafi an Mohd Za’abah, Noorain Duasa 28, Taman Nusa Sentral, area, priced at THB2,924,000 Bandar Nusajaya, Johor (RM352,971) to THB6,364,000. Australia, Melbourne CBD Corporate Time: 6pm to 10pm Property Exhibition Managing Director Au Foong Yee Contact: (07) 223 6799 Datuk Joey Yap’s Feng Shui Date: Jan 23 and 24 (Sat and Sun) Deputy Managing Director Lim Shiew Yuin Organised by Country View Bhd, and Astrology 2016 Venue: Ixora room, Level 10 expect street art, dragon dance, DoubleTree Hotel KL, The Advertising & Marketing Teo Chew Opera, Cantonese Intermark, Kuala Lumpur To advertise contact Opera, Chinese Orchestra, Chinese Time: 10am to 7pm One World Hotel, Petaling Jaya GL: (03) 7721 8000 Fax: (03) 7721 8288 Mask Changing Show, magic Contact: (012) 779 2008/ Time: 10am to 7pm Chief Marketing Offi cer show, live band, lucky draw, (012) 208 1693 Contact: (016) 228 9150/ Sharon Teh (012) 313 9056 Facebook photo contest and the Jalin Realty launches The Peak (016) 228 8691 General Manager, Digital Media arrival of the God of Fortune. apartments in Melbourne. Cornerstone International Kingston Low (012) 278 5540 Senior Sales Managers Located adjacent to RMIT, Properties introduces new UK Geetha Perumal (016) 250 8640 Sansiri Bangkok Property Melbourne Central and State project Discovery Quay.