MAKE BETTER DECISIONS FRIDAY NOVEMBER 27, 2015 ISSUE 2055/2015 A PULLOUT EVERY FRIDAY WITH Read this copy online @ theedgeproperty.com MAKE BETTER DECISIONS PP 9974/08/2013 (032820) ep8 NEWS ep15 DEALMAKERS ep20 HOME IDEAS ep22 GARDEN Oasia Suites Who’s the boss? London trending: Datuk N K Tong tosses Kuala Lumpur vintage-inspired his salads sky-high to debut in 1Q2016 & whimsy! Klang Valley‘s rising southern region Th e growthh off PuchongP h SSouthh hhas bbeen spurredd bby theh expansion of Puchong and the development of Putrajaya and Cyberjaya. Its relative aff ordability, ready amenities and good accessibility are attracting developers and fi rst-time homebuyers. See story on pages ep12 & 13. HARIS HASSAN/THE EDGE PROPERTY FRIDAY NOVEMBER 27, 2015 • THEEDGE FINANCIAL DAILY EP2 PROPERTY | NEWS ON NEWS ROUNDUP Go to theedgeproperty.com for more listings Ewein to announce second RM100 million in FY16 from a net of between RM20 billion and RM25 Penang would be the fi rst state to at www.theedgeproperty.com Penang project loss of RM2.05 million in FY2015. billion. Th e area covered by IIBD is attempt such an initiative. Ewein Bhd is set to announce its She said it will kick off its turn- bordered by Jalan Ayer Molek, Jalan second Penang project after City around plan with its Alam Impian Tun Sri Lanang, Jalan Tun Abdul Empire City Damansara Mall of Dreams. The group expects to project in Shah Alam, Selangor, early Razak and Jalan Sultan Ibrahim. to open Sept 2016 make an announcement by year next year. Alam Impian has a GDV Coronation Square sits on a 6.3 end in relation to its second prop- of RM300 million and will have 132 acre site and will comprise six towers, erty development project in Penang, semi-detached houses. Tan said a hotel, a hotel with residences, an which is expected to have a higher earthworks have commenced on offi ce, medical suites, and two ser- gross development value (GDV) the project. viced apartment towers with a mall. Do you think than City of Dreams, which has a Apart from Alam Impian, Tiger Developed by Coronade Prop- GDV of RM800 million. Datuk Ewe Synergy will be launching two con- erties Sdn Bhd, its managing di- properties Swee Kheng, group managing direc- dominium projects, in Gombak and rector, Datuk Patrick Lim said the in Iskandar tor and deputy chairman of Ewein Cheras, with a GDV of RM100 mil- fi rst serviced apartment block of The Empire City Damansara de- are worth had earlier said Ewein is on track to lion each. “We aim to launch the 400 units will be put up for sale in velopment in Petaling Jaya, which achieve a full-year pre-tax profi t of two projects by the second quarter mid-2016. Th e average size of the held the “Party of the Century” in buying now? RM20 million from its maiden prop- of 2016,” said Tan. units is 600 sq ft. January with celebrities like Paris erty project, City of Dreams, for the Hilton and K-pop group 2 AM, has current fi nancial year ending Dec Ibrahim International Business Penang to call for proposals postponed the opening of the mall 31, 2015 (FY2015), after the group District in Johor launched on urban regeneration projects to September 2016, reports Th e Edge reported a third-quarter profi t surge. Th e Penang state Urban Regener- Financial Daily. For the third quarter ended Sept ation Committee will hold its fi rst Empire City Damansara, an inte- 30, 2015 (3QFY15), Ewein’s net prof- meeting at the Penang Develop- grated lifestyle commercial develop- it jumped to RM6.42 million from ment Corporation on Dec 7, said ment, was initially expected to open RM389,000 a year ago, mainly due its chairman Jagdeep Singh Deo, its retail component in November or Property to the contribution from the group’s reports Th e Malaysian Insider. December this year. It is understood developers property development business. The committee will look into that the opening of the mall, which and their take “Our target (RM20 million) for this regenerating decades-old public has two million sq ft in net lettable year is achievable based on our housing schemes in Penang at Rifl e area (NLA) was moved to May 2016, on the Johor 3QFY15 results,” he said . Th e Sultan of Johor, Sultan Ibrahim Range, Taman Free School, Taman and eventually to September 2016, property “Our expectation to achieve Sultan Iskandar, launched the Ibra- Tun Sardon and Mak Mandin. said a retailer. market RM50 million [in pre-tax profit] him International Business District “As the units at the fl ats have own- An offi cer at the mall’s leasing per year between FY16 and FY19 (IIBD) at the Persada Johor Interna- ers, we have to study the legality of department confi rmed the same, is also well on track,” he added. Ew- tional Convention Centre on Nov 22, what we are trying to do. We have to and said the delay was because some ein, which is also involved in sheet in conjunction with his 57th birthday iron out all kinks. Th en, we have to international tenants had requested metal fabrication, will derive most of celebrations. educate the people and raise aware- for additional time to source goods its profi t from property development Th e 250-acre IIBD is a transfor- ness. We have to help them under- from their suppliers. going forward. mation plan developed by Johor stand and see what is in store for Empire City Damansara Mall is Corporation (JCorp) to turn Johor them in this initiative,” he said. located along the Lebuhraya Da- Tiger Synergy to launch Bahru into a “metropolis of inter- Th e regeneration plan includes mansara Puchong, opposite Muti- The Edge Communications Sdn Bhd Alam Impian in Shah Alam national standard”. JCorp is the state replacing old, low-rise blocks of ara Damansara, on a 23-acre site. (266980-X) in early 2016 investment corporation of the Johor fl ats, which are becoming costly Th e mall’s anchor tenant, Parkson, Level 3, Menara KLK, No 1 Jalan PJU 7/6, Mutiara Damansara, 47810 Petaling Jaya, Tiger Synergy Bhd, which slipped government. to maintain, with new, taller and will take up some 100,000 sq ft of Selangor, Malaysia into the red in its fi nancial year ended Also launched at the event was better-equipped fl ats. retail space. June 30, 2015 (FY2015) from admin- the mixed-use development, Cor- Jagdeep said the state would According to its developer Mam- istration costs and pending new pro- onation Square, the fi rst project in make a request for proposals to ob- moth Empire’s website, the mall Publisher and Group CEO Ho Kay Tat jects, will launch three new projects IIBD, which has a GDV of RM3 bil- tain the best deals to redevelop and will also have an Olympic-size ice with a combined GDV of RM500 mil- lion. It is scheduled for completion rejuvenate the old neighbourhoods. skating rink, 4DX cinema and ‘lux- Editorial For News Tips/Press Releases lion next year, to turn itself around. in nine to 10 years. He conceded that a genuine urban ury courtyard’. Apart from retail Tel: 03-7721 8219 Fax: 03-7721 8038 Tiger Synergy managing director According to JCorp president and regeneration project that benefi ts and offi ce components, the devel- Email: [email protected] Shirley Tan Lee Chin said the group CEO, Datuk Kamaruzzaman Abu a large section of the public would opment will have a Marriott hotel aims to generate a gross profit of Kassim, IIBD has an estimated GDV be challenging to implement, but and an Autograph Boutique Hotel. Senior Managing Editor Azam Aris Contributing Editor Sharon Kam Editor Rosalynn Poh Deputy Editors E Jacqui Chan, Wong King Wai If you have any real estate-related events, email us at [email protected]. Assistant Editor Lam Jian Wyn Senior Writer Racheal Lee LAUNCHES & EVENTS Events listed here will also appear on theedgeproperty.com. Writers Chai Yee Hoong, Rachel Chew, Hannah Rafee, Tan Ai Leng, Natalie Khoo, Ewe Shufei Launch of Park Avenue and features a series of residential 4-bathroom homes are priced Learn how to make your own Art Director Sharon Khoh Canning Rise (Perth) properties in London, Manchester from RM498,000 onwards and natural soap with your fragrance of Design Team Cheryl Loh, Date: Nov 28 and 29 (Sat and Sun) and Liverpool, from studio units come with extended balcony, car choice at this workshop organised Valerie Chin, Aaron Boudville, Venue: 4th fl oor, JW Marriott Hotel, to 3-bedroom apartments. porch and backyard. There will be by IOI Properties Bhd. There will Aminullah Abdul Karim, 183, Jalan Bukit Bintang, KL a show unit for viewing, a garden be two sessions: 12pm to 2pm Yong Yik Sheng, Tun Mohd Zafi an Mohd Za’abah, Noorain Duasa Time: 10am to 7pm Launch of Violet at Citra Hill 2 barbecue party, live band and other and 3pm to 5pm. Call to RSVP. Contact: 012 383 9275 activities. There will also be an Corporate Organised by CBD Properties, the ‘extra bonanza’ of up to RM50,000. Open house at Denai Alam, Managing Director Au Foong Yee event includes two seminars at Shah Alam Deputy Managing Director Lim Shiew Yuin 11am and 4pm with talks by CBD Property talk at Shah Alam 2 project manager Robert Paulose Date: Nov 29 (Sun) Advertising & Marketing on ‘Using Creative Investment Venue: Shah Alam 2 Sales Gallery, To advertise contact Strategies’, principal of Allied Persiaran Puncak Alam 6, 42300 GL: (03) 7721 8000 Fax: (03) 7721 8288 Financial Group’s Neil Migliorisi Bandar Puncak Alam, Selangor Chief Marketing Offi cer on how to secure an Australian Time: 10am to 12pm Sharon Teh (012) 313 9056 home loan, and CBD head of project Contact: 03 3393 3103 General Manager, Digital Media marketing Timothy Low’s ‘Insight Date: Nov 29 (Sun) Property blogger of PropertyWaltz.