Pa International Property Consultants (Kl) Sdn

Pa International Property Consultants (Kl) Sdn

MONTH: JANUARY 2014 ISSUE: 01/2014 Property News PA International Property Consultants is a registered real estate firm committed to providing a comprehensive range of property solutions to meet the needs of investors, occupiers and developers. The Research Division provides core real estate information to clients and internal departments in order to ensure accurate real estate decision-making. Our research team has completed market studies and research work for various ongoing development schemes within Klang Valley, providing comprehensive economic analysis, property PA INTERNATIONAL market information, forecasts and consulting advice based PROPERTY CONSULTANTS (KL) SDN BHD on reliable sources. Phone: 03-7958 5933 We constantly strive to present the most up-to-date Fax: 03-7957 5933 Website: http://www.pa.com.my market knowledge in order to ensure clients are well- Email: [email protected] armed with sufficient data to make the right property decisions. Issue 1: 1- 31 Jan 2014 GENERAL ECONOMIC & PROPERTY MARKET 1. I-Berhad units buying assets in Shah Alam (Business Times, 9 January 2014) . I-Berhad says its units I-City Properties Bhd and City Centrepoint Sdn Bhd, are buying assets in Shah Alam from The Peak@KLCC Sdn Bhd for RM370.3 million. In a filing to Bursa Malaysia yesterday, the company said I-City Properties has proposed to acquire a land of about 4.9 hectares for RM241.3 million, while City Centrepoint has proposed to acquire a nearby 3.01 hectare site for RM129 million. GENERAL ECONOMIC & PROPERTY MARKET 2. RM50b project tenders out next month (Business Times, 16 January 2014) . The Employees Provident Fund's unit, Kwasa Land Sdn Bhd, will call for tenders in February for the development of its RM50 billion township project in Sungai Buloh, Selangor. Kwasa Land Managing Director Mohd Lotfy Mohd Noh said upon obtaining approvals from the state authorities, the first parcel of 25.6-ha will be developed into a modern state-of-the-art town centre and transport hub, in partnership with Tier 1 developers. Tier 1 developers are large-scale companies with a paid-up capital or shareholders fund of at least RM1 billion. The town centre will comprise 70 per cent commercial and 30 per cent residential components. Besides the town centre, residential developments of 4ha to 5ha each will be tendered out to Tier 2 and Tier 3 Bumiputera developers. The township project will be developed into eight precincts, each with its own urban-design guidelines. 3. Felcra to kick off projects in April (Starbiz, 29 January 2014) . Felcra Bhd expects the construction of its maiden premium mixed property development project in Jalan Semarak, Kuala Lumpur to begin in April and completed within the next three years. The project will comprise the group’s new headquarters a 30-storey Wisma Felcra, condominiums and a shopping mall cum business centre. The gross development value of the entire project was estimated at RM1 billion, of which phase one would cost about RM400 million. 4. Bank Negara maintains benchmark rate at 3% (SunBiz, 30 January 2014) . Bank Negara Malaysia (BNM) yesterday kept the overnight policy rate (OPR), which is used as a benchmark for banks to determine interest rates, unchanged at 3% at its first Monetary Policy Committee (MPC) meeting for the year. Inflation rose to 3.2% in December 2013 to average at 2.1% for the year as a whole. Going forward, inflation is expected to average higher largely due to domestic cost factors. Our philosophy is simple: A unique combination of People, Intellectual Property, Relationships, Services and Commitment 1 Issue 1: 1- 31 Jan 2014 DEVELOPMENT LAND 5. 2 Bumi firms buy 2.4ha from Kwasa Land (Business Times, 28 January 2014) . Kwasa Land, which is a wholly-owned subsidiary of the Employees Provident Fund (EPF), said Pink Corner won the 1.72ha Lot 73535 of Mukim Sungai Buloh, District of Petaling, Selangor, with a winning bid of RM13 million or at RM70 per sq ft (psf). TRC Land Sdn Bhd won the 0.69ha Lot 73971 in the same area with a RM 6.1 million bid or at RM82 psf. DEVELOPMENT LAND . The land parcels were tendered on an "as is, where is" basis, based on agriculture titles, and are a mere stone's throw away from the main township development. Both land parcels were sold above the reserved price by 13 per cent and 11 per cent, respectively. The plots would gain from socio-economic benefits that include the new mass rapid transit system and commercial, retail and residential developments, including affordable homes. RESIDENTIAL PROPERTY IN KLANG VALLEY 6. New serviced residences in i-City (MertoBiz, 6 January 2014) . The i-Suite @ i-City, a freehold development, will be managed by Nest Western International. / . Naresh Mohan, Managing Director of Trinidad Hospitality Sdn Bhd said, all of 498 units of i-Suite@i-City RESIDENTIAL PROPERTY come furnished in accordance with hotel room specifications. He added that property buyers who opt for the leaseback offer can expect anything between 6% and 7% annual returns as opposed to 3% and 5% if they were to rent out their units. The serviced residences come in built-up areas ranging from 566 sq ft to 850 sq ft with price starting from RM437, 680. The project is expected to be completed in 2016, the same year as the expected completion of the RM580 million Central Plaza @ i-City retail mall. 7. Mah Sing to preview first landed homes in Southville City (TheEdge, 10 January 2014) . Mah Sing Group Bhd will unveil the first landed homes in its 428 acre (173 hectares) Southville City@ KL South in Bangi, Selangor by end-February. The group’s latest offering will span 15 acres and has a gross development value of RM150 million. In total, there are 196 units of linked houses offered. The selling price for the 2½-storey linked houses, which are sized from 2,600 sq ft, will start from RM860,000. The 3-storey version, sized from 2,900 sq ft, will be priced from RM980,000. The link houses will have a shared linear garden. Around the same period, Mah Sing will officially launch the first five blocks Savanna Executive Suites. Last September, Mah Sing unveiled the first four blocks of Savanna Executive Suites. According to the developer, approximately 80% of the 1,500 available units were taken up. Prices for the units were priced at RM318,000. Savanna features eight blocks of 25-storey apartments with layouts sized at 956 sq ft, 1,017 sq ft and 1,960 sq ft. These units will be partly furnished with an air-conditioning system and basic fittings. The construction of all eight blocks will start mid-2014 and scheduled to be completed by end 2018 or early 2019. Our philosophy is simple: A unique combination of People, Intellectual Property, Relationships, Services and Commitment 2 Issue 1: 1- 31 Jan 2014 . The township sports a 20-acre sales gallery and show village, all of which, including the landscaping, cost over RM10 million to build. A 13km pedestrian footpath-cum-bicycle track connects the entire neighbourhood. Southville City will also have a riverside walk, nature trail and a 9-acre urban park. The freehold development will be accessible via a 5km interchange, which costs RM150 million. It is approximately 2.5km away from the Bangi interchange on the KL-Seremban stretch of the North-South Highway. Work on the interchange will start in mid-2015 and is slated to be completed within 28 months. Southville has an estimated gross development value of RM5.15 billion, divided into three phases and will be developed in stages. Upon its completion in 10 years, Southville City will be home to more than 17,500 people. 8. OSK Properties to officially launch Eclipse Residence (The Edge, 10 January 2014) Project / development Eclipse Residence (Phase 3 of Pan’gaea) Developer OSK Property Holdings Bhd RESIDENTI Location Cyberjaya Launching End of March 2014 Tenure Freehold Development type / 2 towers of serviced apartment unit -668 units GDV RM398 million Build up 1- 3 bedroom suites AL PROPERTY -From 450 sq ft to 990 sq ft Land area 16 acre Facilities . Multi-purpose room . Gourmet and chill zone . Gymnasium . Games room . Sauna and steam room . BBQ area . Jogging track . Children’s playground . Squash courts . Viewing deck . Yoga and Tai Chi lawn Completion date In 4 years Notes . Approximately 30% of the available units have been taken up. Eclipse Residence is the third of five phases in Pan’gaea. The facilities will be on the 10th floor and rooftop . The residents will also have access to a sky bar and lounge, Jacuzzi, landscaped gardens and an infinity swimming pool on the rooftop of the two residential towers. The other components in Pan’gaea include : Small Office Flexible Office (SoFo) suites Boutique retail shops Serviced residences A street mall as well as the gallery mall, with over 300,000 sq ft of net lettable space. A boutique hotel . Within a 5-15 minute walk to educational institutions such as the Multimedia University and Lim Kok Wing. Easily accessible to Puchong, Kajang, Subang and Shah Alam, as well as major expressways such as The North-South Central Link (Elite Highway), South Klang Valley Expressway, The Damansara-Puchong Highway and the Maju Expressway (MEX). Our philosophy is simple: A unique combination of People, Intellectual Property, Relationships, Services and Commitment 3 Issue 1: 1- 31 Jan 2014 9. Highlight Tycoon, offering HK$500m to “future son-in-law” resumes KL project (The Edge, 3 January 2014) . The project comes eight years after property magnate Cecil Chao of Cheuk Nang (Holdings) Ltd began his foray into Malaysia’s real estate market with Parkview serviced apartments in Kuala Lumpur, which was developed jointly with Mayland Bhd.

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