month: october 2011 issues: 10 /2011 property 2011.pdf · compared to singapore, malaysia reit...

PA INTERNATIONAL

PROPERTY CONSULTANTS (KL) SDN BHD

Phone: 03-7958 5933 Fax: 03-7957 5933

Website: http://www.pa.com.my Email: [email protected]

MONTH: OCTOBER 2011 ISSUES: 10/2011

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

market information, forecasts and consulting advice based

on reliable sources.

We constantly strive to present the most up-to-date

market knowledge in order to ensure clients are well-

armed with sufficient data to make the right property

decisions.

http://www.pa.com.my/

Issues 10: 1-30 October 2011

Our philosophy is simple: A unique combination of People, Intellectual Property, Relationships, Services and Commitment 1

GENERAL ECONOMIC & PROPERTY MARKET

1. icapital: Reforms critical to Malaysia’s economy (The Star, 04-Oct-2011)

icapital.biz Bhd is “tentatively optimistic” of Malaysia’s economy which has so far remained resilient.

Managing director Tan Teng Boo said Malaysia’s economic growth had been sustained by exports of

commodities and this was not sustainable in view of the impending global economic downturn.

It was reported that commodity prices tumbled in September due to the weakening global stock

markets amid a deepening eurozone debt crisis and fears of an impending global recession.

Tan said, as the economy would be affected by troubles in the global economy and markets, the

Malaysian stock market could be in a bearish mood for the next 12 to 18 months. Nevertheless,

Malaysian economy has potential and it needs reform to unleash the sleeping economic giant.

The successful implementation of reform measures initiated by Prime Minister Datuk Seri Najib Tun

Razak is extremely critical to unleash Malaysia’s economic potential and boost its competitiveness.

2. Axis: REITs resilient in uncertain times (The Edge Property, 05-Oct-2011)

According to the Axis REIT Managers Bhd CEO Stewart LaBrooy, Malaysian real estate investment trust

(REITs) have proven to be resilient in times of economic and financial uncertainty.

LaBrooy added, in the market sell-down that started since August, the volume of REIT units traded has

been quite low only 200 to 300 units traded a day.

Compared to Singapore, Malaysia REIT market is only 10th of Singaporean market, implying that it is a

relatively small market, where the market capitalisation of REITs in Malaysia only amounted to US$3.7

billion (RM11.8 billion) while Singapore’s REIT market has capitalisation of US$31 billion.

3. 20 firms to showcase projects at property fair (The Star, 06-Oct-2011)

About 20 developers and property-related companies will showcase their projects and management

services at The Star Property Fair 2011 from Nov 25-27 at the Kuala Lumpur Convention Centre.

This property fair will comprises some of Malaysian’s most well-known developers like Dijaya Corp

Bhd, Sime Darby Property Bhd, Mah Sing Properties Sdn Bhd, Naza TTDI Sdn Bhd, Encrop Bhd, Setia

Haruman Sdn Bhd, OSK Property Holdings Bhd, Sunway City Bhd, IOI Properties Bhd and Ivory

Properties Group Bhd.

According to the event manager Ian Qua, the event will be a good place to start for first-time property

buyers as it will be an educational experience for them. For those who have made purchases

previously, this will be a good event to go as the country’s major developers will congregate at the

convention centre. Much time and effort will be saved for house buyers as they will be able to

compare the different offerings and pricing.

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4. Economic Report 2011/2012: GDP to grow 5% to 6% in 2012 (The Edge Property, 07-Oct-2011)

The Malaysian economy is expected to grow by 5% to 6 % in 2012, led by resilient domestic demand.

Table below shows the GDP projection by government from 2011 to 2012 by sectors:

Sector Description

Construction Expected to growth anticipated to double to 7% from 3.4% in 2011 as large infrastructure

projects and housing construction activities pick up.

Manufacturing Expected to maintain its growing of 4.5%.

The growth for 2012 would be underpinned by the resource-based sub-sectors in the

domestic industries.

The demand for electrical and electronic (E&E) is expected to be driven by resumption

of restocking activity, given the low level of global inventory as reflected in the book-

to-bill ratio.

Services Expected to record marginal increase of 6.5% from 6.4%.

This sector is underpinned by the wholesale and retail trade, finance and insurance as

well as communication sub-sectors.

The implementation of the Entry Point Project (EPPs) is expected to give the sector a

boost and the contribution of the services sector is expected to increase to 58.9 of

GDP.

Mining and quarrying Expected to stage a turnaround from a negative 2.4% in 2011 to a 2.5% growth in

2012.

Expected to pick up following higher production of crude oil and natural gas especially

from crude oil production (including condensates) is expected to expand 3.3% to

620,000 bpd (2011 -6% ; 6000,000 bpd), on higher production from new oil fields.

Agriculture Expected to grow at a slower pace of 4.1% in 2012 from 4.7% in 2011.

This sector is underpinned by the plantation sector which is oil palm and rubber.

While fresh fruit bunches is expected to increase 21 tonnes per hectare from 20.8

tonnes in 2011.

Domestic demand Domestic demand is expected to grow 7.6% in 2012 (8.1%).

The growth in private consumption is expected to be broad-based, growing at 7.1% in

2012 from 6.6% in 2011, underpinned by steady consumer confidence with stable

employment outlook and higher household income.

Private investment is expected to growth at a slower pace of 15.9% in 2012 (16.2%)

after hitting a high of 17.7% in 2010.

As for public expenditure, the government is trimming its spending for 2012 and

spending would capped at 4.7% in 2012 (7.6%).

Public consumption is expected to shrink more than half to 3% from 7% in 2011.

Investment is expected to see a slight increase to 7% from 6% in 2011.

5. Chor sees no property asset bubble (The Star, 14-Oct-2011)

Malaysia does not foresee a property asset bubble in the near future unlike China, Hong Kong and

Singapore, which have such concerns.

According to Housing and Local Government Minister Datuk Chor Chee Heung, many local developers

were still rushing to submit their applications for various projects.

Chor added the increase in the real property gains tax (RPGT) was among the measures taken by the

Government to curb speculation that current slower property sales is the sign for property asset

bubble in Malaysia.

The Budget 2012 proposed that the RPGT on properties held and disposed of within two years be

raised to 10% from 5%.

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Chord said although the additional 5% was not too much of a deterrence, it would not give much room

for speculators to buy property and flip it shortly, adding that the additional tax would not affect

genuine home buyers.

The second Finance Minister Datuk Seri Ahmad Hanadzlah, said that the real estate and business

services sector was projected to expand by 6.8% and 5.7% respectively in 2011 and 2012.

6. KLIFD to take off early 2012 (Business Times, 14-Oct-2011)

Boost from KL International Financial District (The Star, 15-Oct-2011)

Kuala Lumpur International Financial District

(KLIFD) is a key to strengthen the position of

Kuala Lumpur as the global financial city of

choice, transforming Kuala Lumpur into an

international hub for banking and finance as

well as related professional services.

KLIFD has been identified by the government

as an Early Entry Point in its comprehensive

economic Transformation programme to

more than double per capita income by 2020.

The Government wholly owns 1 Malaysia

Development Bhd (1 MBD), the master

developer of KLIFD.

The RM26bil project is located in the heart of Kuala Lumpur’s southern tip. Its sits on 75 acres

encompassed by Jalan Tun Razak, Jalan Sultan ismail and the Putrajaya elevated highway. It will be

overseen by 11 local and foreign consultants appointed by 1 MDB to push forth its development.

1 MDB ownes the 30.35ha on which the KLIFD will be developed. The entire financial district is slated

to be completed in two decades, with its first phase comprises of a tower and several buildings

expected to be operational by 2016.

Under budget 2012, to accelerate the development of the KLIFD, the Government will offer income tax

exemption of 100% for a period of 10 years and stamp duty exemption on loan and service

agreements for KLIFD-status companies.

Others incentives include, Industrial Building Allowance and Accelerated Capital Allowance for KLIFD

Marquee Status Companies, while property developers in KLIFD will benefit from income tax

exemption of 70% for a period of five years.

Below is the list for selected companies for KLIFD development:

KLIFD Specialist Appointed companies

Traffic management

consultant

Perunding Trafik Klasik Sdn Bhd

Quantity surveyor Perunding NFL Sdn Bhd

Landscape architect Akitek Jururancang Malaysia Sdn Bhd

Land surveyors Jurukur Perpaduan Sdn Bhd and Jurukur ESA Sdn Bhd

Infrastructure engineering

consultants

EDP Consulting Group Sdn Bhd and Buro Happold Consulting Engineers (a UK and US

consultant which also acts as KLIFD’s sustainability consultant)

Security and risk engineers ARUP Jururunding Sdn Bhd (from Malaysia) and Hong Kong-based Arup Group

International

Proggramme manager KEO International Consultants (from Qatar)

Master planners Akitek Jururancang Malaysia Sdn Bhd and Machado Silvetti & Associates (selected

from an international design competition)

An artist impression of Kuala Lumpur

International Financial District

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7. PM unveils four ETP dimensions to realise greater KL aspiration (Bernama, 25-Oct-2011)

Description Prime Minister Datuk Seri Najib Razak today unveiled four dimensions identified in the

Economic Transformation Programme to realize the Greater KL/Klang Valley aspiration.

Vision of The Greater

Kl/Klang Valley project

To attain the status of the world's top 20 cities enjoying sustainable economic growth.

The four Dimensions Dimensions Objectives

1st Dimension:

Greater KL/Klang Valley

as a Magnet

2nd Dimension:


Connect

3rd Dimension:


New Places

4th Dimension:


Enhanced Services

To attract more dynamic multinational companies to

establish their global or regional headquarters at Greater

KL/Klang Valley.

To have a regional network to develop the transportation

system to link Greater KL/Klang Valley and also develop

transportation network in Kuala Lumpur city by

implementing the high capacity Mass Rapid Transit

(MRT).

To identify high potential and attractive destinations in

Greater KL/Klang Valley to be upgraded to improve

livability for the people and to woo tourists to visit

Greater KL/Klang Valley.

To ensure the divide between basic services is given

attention to improve livable in the city and boost the

tourism sector.

Notes According to Datuk Seri Najib, projects and major initiatives planned under the 10th Malaysia Plan towards transforming Greater KL into a world-class city include the Kuala Lumpur International Financial Centre (KLIFD), Sungai Besi Airport redevelopment, Sungai Buloh Township development and Malaysia Truly Asia Centre.

8. Smart City-Smart Village to contribute RM95bil to economy by 2020 (The Star, 29-Oct-2011)

Project/programme Smart City-Smart Village

Goal To improve everything from energy use to healthcare, education, traffic and shopping by

doing it ‘smart’ with the help of ICT and green technology.

Notes This project is the second-highest project to be implemented through Global Science

and Innovation Academy Council (GSIAC).

Smart City-Smart Village is expected to increase opportunities in the service industry

and create employment across the value chain for 420,000 people.

According to the Malaysia Industry-Government Group president and chief executive

officer Mohd Yusoff Sulaiman, “green field” and “browned field” projects have been

indentified for the Smart City proggrame.

Green field projects: there’ll be a very good opportunity to develop new cities like

Iskandar region and cities near the Greatest Kuala Lumpur area.

Brown field projects: i.e. the present city of Kuala Lumpur, there’s a need to see

beyond the elements of infrastructure such as social development, culture and value to

be added to the existing city development to raise the quality of life.

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9. Malaysia’s vastly improved global rankings show economy on the right track (The Star, 31-Oct-2011)

Description Malaysia is seeing a rise in investor confidence. The good performances in the international

rankings are therefore a clear sign that the economy is on the right track.

Facts The World Bank’s Doing Business Report placed Malaysia 18th out of 183 countries in

term of “ease of doing business”, ahead of economic powerhouse like Germany (19th),

Japan (20th) and Taiwan (25th).

The WEF’s Global Competitiveness Report ranked Malaysia the 21th most competitive

among 142 countries surveyed, overtaking countries like South Korea (24th) and New

Zealand (25th

).

Indicators of

economic success

Improvements in competitiveness and ease of doing business rankings show that a

country is on the right track to achieve economic success, particularly in uncertain

times.

The rankings show that the economic reforms are being received positively by the

global market.

Competitiveness indices also demonstrate an economy’s growth potential.

Conversely, the ranking track the ability of a country to create wealth, sustain progress

and its resilience to global economic uncertainty.

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LAND TRANSACTIONS

10. Industrial land sale in Semenyih, Selangor (Bursa Malaysia, 03-Oct-2011)

11. Development land sale in Seberang Perai Tengah, Penang (Bursa Malaysia, 03-Oct-2011)

Location Ulu Langat, Selangor

Vendor Spektrum Megah (M) Sdn Bhd

Purchaser Setia Hicon Sdn Bhd (a wholly-owned subsidiary of S P Setia)

Title details Held under Geran 30905, Lot No. 1812 and Geran 50544, Lot 650

Mukim/ District Mukim of Semenyih, District of Ulu Langat, State of Selangor

Land tenure Freehold

(a portion of Lot 1812 measuring 44.40-acre is subject to a registered lease and

another portion of Lot 650 measuring 20-acre has been compulsorily acquired

under the Land Acquisition Act, 1976)

Description The land category for Lot 1812 is land building whilst for Lot 650 is Industrial

Land. The terrain of Said Land is generally undulating and is zoned for mixed

housing development. The land is currently planted with oil palm tress. It is

located at Rincing and also situated midway between the towns of Semenyih,

Bangi Old Town and Beranang. It is approximately 4-km south of Semenyih, 12-

km east of Bangi Old Town, and 6-km north-west of Beranang. The said Land is

also located 13-km south of Kajang town and 35-km south of Kuala Lumpur City

Centre. The travel time to Kuala Lumpur City Centre from the Said Land and via

Jalan semenyih, which connects onto the Kajang SILK Highway and further onto

the North-South Highway and Kuala Lumpur-Seremban Highway is

approximately 40 minutes. The Said Land is approximately 15 minutes from

Proposed Bandar Kajang MRT Station on the Sungai Buloh-Kajang Line.

Land area Excluding the Leased and Acquired Portions : 29,327,641.20 sq ft (673.27-acre)

Price RM381,259,333.00 @ RM13.00 per sq ft @ RM566,280.00 per acre

Date of SPA 03 October 2011

Location Bukit Minyak Industrial Park

Vendor Penang Development Corporation

Purchaser Pensonic Holdings Berhad

Title details Plot 98

Mukim/ District District of Seberang Perai Tengah

Land tenure Leasehold 60 years (expiring on 1st March 2059)

Description The said land is a vacant land

Land area 261,360.44 sq ft (6.0000- acre)


Date of SPA 21 September 2011

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12. Residential land sale in Kepong, Kuala Lumpur (Bursa Malaysia, 11-Oct-2011)

13. Development land sale in Puncak Alam, Selangor (Bursa Malaysia, 17-Oct-2011)

Location Kepong, Kuala Lumpur

Vendor Tago (Malaysia) Sdn. Bhd.

Purchaser IDP Industrial Development Sdn Bhd (subsidiary of UOA Development Bhd)

Title details Held under Geran Mukim 80887, Lot No. 439 and Geran Mukim 7968 Lot 438

Mukim/ District Mukim of Batu, District of Kuala Lumpur, State of Wilayah Persekutuan Kuala

Lumpur


Description The Purchaser planning to develop the Land into residential development and is

expected to commence in the year 2012. The said land is strategically located

less than 10 kilometres from Kuala Lumpur City Centre, within the suburbans of

Kepong, Kuala Lumpur, a densely populated matured township. The land is

highly accessible via major highways such as Duta - Ulu Klang Expressway (DUKE)

and jalan Kuching.

Land area 428,801.90 sq ft (9.8-acre)

Price RM72,896,323.00 @ RM170.00 per sq ft @ RM7,438,400.00 per acre


Location Puncak Alam, Kuala Selangor, Selangor Darul Ehsan

Vendor Liputan Canggih Sdn Bhd

Purchaser Tiara Best Sdn Bhd (a wholly-owned subsidiary of Engtex Group Berhad)

Title details Held under Master Title H.S.(D) 5724, PT No. 10560 and H.S.(D) 5725, PT No.

10561

Mukim/ District Mukim of Ijok, District of Kuala Selangor, State of Selangor

Land tenure Leasehold (expiring on 13 January 2101)

Description The subject property consists of 2 pieces of agriculture land which are well

integrated by roads to the major townships and transportation hub. It is located

approximately 8km from Meru Town, 12km from Meru Industrial Park and Shah

Alam, 19km from Sungai Buloh, Kota Damansara and Subang Jaya, and 25km

from Port Klang and Subang Skypark Terminal. The land is currently planted with

aging oil palms trees with no building erected, and or not let out or used.

Purchaser intends to convert the said Lands into industrial Land.

Land area 7,927,920 sq ft (182-acre)



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14. Commercial land sale in Port Dickson, Negeri Sembilan (Bursa Malaysia, 17-Oct-2011)

15. Residential land sale in Kuala Langat, Selangor (Bursa Malaysia, 27-Oct-2011)

Location Pekan Lukut, Port Dickson

Vendor Tekan Mewah Development Sdn. Bhd. (a wholly-owned subsidiary of Tiger

Synergy Berhad)

Purchaser Kasimentari Sdn Bhd

Title details Held under PT No. 156 to 243 and PT No. 245 to 264 and Held under Geran

169988 Lot No. 14049 (PT No. 199)

Mukim/ District Pekan Lukut, District of Port Dickson, State of Negeri Sembilan


Description The properties are 107 pieces of lands with total area of 150,737.80 sq ft /

14,004 sq m and a piece of 45,703.56 sq ft / 4,246 sq m commercial land.

Land area 196,441.36 sq ft (18,250 sq m)

Price RM8,000,000.00 @ RM40.72 per sq ft @ RM438.36 per sq m


Location Mukim of Tanjong Duabelas, District of Kuala Langat, Selangor Darul Ehsan

Vendor LBS Bina Holdings Sdn Bhd

Purchaser Triple Equity Sdn Bhd (a wholly-owned subsidiary of LBI Capital Berhad)

Title details Held under PN 11211, Lot 20407

Mukim/ District Mukim of Tanjong Duabelas, District of Kuala Langat, Selangor Darul Ehsan,

State of Selangor

Land tenure Leasehold (expiring on 11 September 2094)

Description The land will be sub-divided into 157 pieces of sub-divided lot of vacant land

heald under PT No. 18519 to PT No. 18675. The property is located in Taman

Saujana Putra (next to Putra Height) and easily accessible through the North

South Central Link (Elite) and South Klang Expressway (SKVE). It lies

approximately 6 kilometress to the Subang USJ and 25 kilometres to the south

of Kuala Lumpur city centre.

Land area 509,652 sq ft (11.70-acre)

Price RM13,760,604.00 @ RM27.00 per sq ft @ RM1,176,120.00 per acre


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RESIDENTIAL PROPERTY IN KLANG VALLEY

16. Mah Sing secures bulk sale for Icon (Bursa Malaysia, 27-Oct-2011)

Mah Sing Group Bhd (Mah Sing) has secured a bulk sale of 96 units out of 260 units of serviced

residences in Icon Residence Mont'Kiara for a total of RM220.8 million or RM1,200 per sq ft,

purchased by a Chinese corporation. With the bulk sale, the take-up of the project is now more than

60%.

In return for the selected units, the Chinese corporation will undertake the construction and external

work of the entire Icon Residence Mont'Kiara project. The corporation has also appointed the

developer as the sole marketing agent for the 96 units, said Mah Sing in a statement on Monday Oct

10.

According to Mah Sing group managing director cum group CEO Tan Sri Leong Hoy Kum, Mah Sing is

encouraged by this bulk sale which is a vote of confidence in their project. This is a win-win

arrangement for both parties as there is plenty of upside to the project once it is completed.

Tan Sri Leong Hoy Kum added, Mah Sing effectively does not have to come up with further cashflow to

complete the project because the arrangement helps frees up the construction cost for Mah Sing and

allows them to use their cash flow for other opportunities. It also sets a precedent for similar

arrangements in the future in other Mah Sing projects.

17. 9 Bukit Utama to launch second tower (The Edge Property, 14-Oct-2011)

PROJECT NAME 9 Bukit Utama (the second tower : Ceta)

Location Bandar Utama township, Petaling Jaya

Developer Bandar Utama Development Sdn Bhd

Type 40-storey condominium

Tenure Freehold

Total development

area 7.5-acre / 3-hactare

Launching date 18-October-2011

GDV RM1 billion (for all phase)

Block/units Ceta block: 300 units

All blocks: 911 units

Built-up area Standard units (4+1) : 2,668-2,742 sq ft

Penthouse units: 8,250 sq ft

Developer selling

price From RM1.4 million onwards / RM525 per sq ft

Service charge RM400 – RM500 monthly per unit (maintenance charges: RM0.19 per sq ft / sinking fund:

RM0.02 per sq ft)

Features Units from level 25 and above equipped with GypWall Robust flexible drywall (a good

structure and soundproofing wall) partitions set between rooms.

Favourable factors Located right within and around a 9-hole golf course.

Located next to The Club@Bukit Utama: offering various facilities including Olympic-

size swimming pool and squash courts as well as the golf course.

Two years free membership at The Club@Bukit Utama.

Notes

9 Bukit Utama comprises three towers of Aria, Ceta and Beva. Aria was launched in 2010 with 80% sold and 30% occupied. Beva currently is under construction and expected to be launched in 2012.

An artist impression

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18. Residents looking forward to Kg Baru’s redevelopment (The Star, 27-Oct-2011)

Subject The Residents of Kampung Pindah want their village to be the pilot project for the Kampung Baru Development plan.

Details of Kampung Pindah

Kampung Pindah is a 566,179.42 sq ft / 5.6-hectare village located near to Sungai Bunus in Kampung Baru, Kuala Lumpur. The village is made up of 70 lots with some 400 residents.

Facts According to the village chief Osman Siru Hashim, the redevelopment effort should start with Kampung Pindah as the village in need of infrastructure repairs due to sink hole problems and the frequent incidence of flash floods.

The problems need to be resolved due to greater effects on villagers’ livelihood. Since Kampung Baru Development plan is a long-term investment, it has to be a win-win situation for the relevant stakeholders said Shahrul Ahmad, one of the sink hole and flood victims in Kampung Pindah.

Former Kampung Pindah village head said that making Kampung Pindah the pilot project is a good thing since the development gives benefit to everyone. He added, if Kampung Pindah gets developed, the other villages will follow suit.

Kampung Baru Development plan

Malay Agriculture Settlement (MAS) secretary Samsuri Suradi said the development plan involves three types of land owners – those who want to sell their land, those who want to preserve their land and those who want a share in the development. Samsuri added that there was no question of any acquisition by anyone and Mas was there to support as well as lend a helping hand in administrating the process.

A few infrastructure touch-point projects with a cost of RM8.8mil has been implemented since this year including the upgrading of main roads such as Jalan Raja Abdullah and Jalan Raja Abdul Aziz, upgrading of drains and road resurfacing.

The new amended Kampung Baru Development Corporation Bill was tabled, debated and passed during the Dewan Rakyat sitting on Oct 5.

With the Bill passed, it is expected to be gazetted by the first quarter of next year, paving the way for the setting up of Kampung Baru Corp (KBC).

Notes Federal Territories and Urban Wellbeing Minister Datuk Raja Nong Chik said that an Interim Team would be appointed in November as the first step for the kampong Baru Corporation with a grant of RM15mil.

The team will be functioning as a body that will recommend the structure, appointment in the corporation and adviser committee and employment of the corporation as well as to give explanation on the relevant issues and handle matters with GLCs regarding the development.

RESIDENTIAL PROPERTY IN NORTHERN /EASTERN PENINSULAR

19. Residential building transaction sale in Penang (Bursa Malaysia, 13-Oct-2011)

Location 522A-21-02, Jalan Tanjung Bungah, 11200 Tanjung Bungah, Pulau Pinang

Vendor Diamaward (M) Sdn. Bhd. (a wholly-owned subsidiary of HUNZPTY)

Purchaser Ms. Ooi Lay See

Title details Held under Grant No. 103764 Lot No. 4575 (previous Lot No. 3605 Grant No. 28475, Lot

No. 3606 Grant No. 28476 and Lot 3607 Grant No. 30255)

Mukim/ District Bandar Tanjung Bugah, District of Timur Laut, Penang


Description The property consists of 1 unit condominium in the development project known as Parcel

No. A3-21-02 of Infinity Condominium. This transaction is a related party transaction

(RPT). The estimated timeframe for completion of the RPT is within 90 days from the date

of the SPA with an extension of 30 days from the expiration of the completed Period.

Price RM2,900,000.00


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RESIDENTIAL PROPERTY IN SOUTHERN PENINSULAR

20. Good response to open concept layout of houses (The Star, 11-Oct-2011)

A total of 60 units of semi-detached houses known as ‘inspired’ were launched at the launching event

at Sutera Utama commercial area recently.

There are two models of 32 units of 2-storey semi-detached concept homes which priced starting from

RM1.3 mil onwards and 28 units of 3-storey semi-detached homes with priced starting from RM1.5mil

onwards. These two different models were launched to carter different consumers.

According to Tanah Sutera Developmen Sdn Bhd senior sales manager Daniel Tan, around 100 people

attended the launching event due to the house’s open concept design which allowed for interaction

among neighbours. The opened-concept layout promotes the kampong life where the residents can

mingle around with each other better leads to closer relationship between the communities and the

families.

Daniel added that this development is developed in a strategic location since it is near to schools and

shopping complex.

21. Resort living in Johor Baru (The Star, 12-Oct-2011)

PROJECT NAME Seri Austin

Location Tebrau, Johor Bahru

Developer Dynasty View Sdn Bhd [a wholly-owned

subsidiary of United Land Berhad’s

(UMLand)] Type Township

Tenure Freehold

Development

area

21,780,000 sq ft / 500-acre / 202-hectare

(including 200 acres which have been

developed-balance left for future growth)

Occupancy rate Over 1,000 houses have been completed

and fully occupied

Facilities and

special features

Green linear park Jogging tracks Lush landscaping Beautiful lake

Favourable

Factors

Easily accessible via the North-South Expressway, Dato’ Onn Interchange, Pasir Gudang Highway and Tebrau-Kota Tinggi Highway.

Located 15-minutes driving distance from Johor Bahru city centre [the distance will be even shorter with the completion of the proposed RM977mil Eastern Disperal Link Expressway (EDL)]

The area boasts with a 36-hole golf and country resort and middle-class suburban elegance. Located near to retail complexes and collage such as Jusco, Tesco, Ikea (coming soon) and

Sunway Collage. Private and secure neighbourhood with limited entry points. Seri Austin is the first township in Johor Bahru to implement the “Effective Microorganism”

(EM) programme, supported by local authority Majlis Bandaraya Johor Bahru (MBPJ). Notes The development is expected to house a population of 30,000 upon completion.

Example of property in Seri Austin is Emery, the 22’ x 70’ wide and spacious 2-storey terrace house with modern layout and contemporary façade as well as spacious interiors.

Emery comes with four spacious bedrooms and four bathrooms, a wider car porch with a longer driveway and bigger floor tiles for living and dining, fiber optic telephone cables without any overhead electric cables and Telekom Malaysia high speed broadband.

An artist impression of Emery

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22. Developer revives abandoned project in Port Dickson (The Star, 14-Oct-2011)

23. Somerset Puteri Harbour to be managed by Ascott (The Edge Property, 25-October-2011)

PROJECT NAME Taman Impian Putra

Location Port Dickson

Developer Purcon (M) Sdn Bhd

Type Landed property

Tenure Leasehold 99 years

Development

area 947,224.12 sq ft / 8.8-hectare

No. of units Phase I: 60 units of single storey link homes 48 units of 2-storey link homes Phase II: 61 units of 2-storey terrace house (22’x80’) 20 units of 2-storey semi detached (40’x100’) 27 units of 2-storey bungalows (60x100 and 50’x100)

Selling price Phase II: 2-storey terrace house (22’x80’) : From RM119,000 and RM229,000 2-storey semi detached (40’x100’) : From RM399,000 onwards 2-storey bungalows (60x100 and 50’x100) : From RM570,000 onwards

Favourable

factors

Strategic location: close to Kuala Lumpur International Airport (KLIA) and several institution of higher learning such as UCSI University Hospital and UCSI International School at Bandar Springhill which are under construction.

Developed by a reputable developer with 36 years of experience in the industry and has built and delivered more than RM1bil worth of commercial, industrial, residential and resort properties throughout the peninsula.

Notes The development previously known as Taman Crystal which was abandoned more than two decades ago.

PROJECT NAME Somerset Puteri Harbour

Location Puteri Harbour, Nusajaya, Johor

Developer Nusajaya Consolidated Sdn Bhd

(a joint venture between United

Malayan Land Bhd and UEM

Land Holding Bhd)

Type Serviced residence

No. of units /

storey

204 units

Selling price From RM80 per sq ft

Launching date November 2011

Completion date 2013 (expected) Notes Ascott Ltd has been appointed managers of the Somerset Puteri Harbour serviced

residences upon its completion. Somerset Puteri Harbour is within walking distance to Kata Iskandar, Johor’s new

administrative centre, 20 minutes drive from the Malaysia-Singapore Second Link, 25 minutes from Senai International Airport and a mere 10 minutes away from the first Legoland theme park in Asia.

An artist impression of Somerset Puteri Habour

serviced residence

An artist impression of 2-storey

bungalow house in Taman Impian Putra

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24. Melaka Sets Up One-stop Centre To Sell 1,602 Unsold Bumi Quota Houses (Bernama, 28-October-2011)

Subject According to Chief Minister Datuk Seri Mohd Ali Rustam, Melaka Government has set up a one-stop agency which managed by the State Housing Board.

Descriptions A total of 1,602 houses, ranging between RM35,000 and RM550,00 a unit, are being offered by housing developers via the centre with the total property value is RM386 million.

Pertam Properties and Hartanah Bumiputera Melaka are offering completed 1,002 houses and shop offices under Bumiputera quota worth RM253 million, which have not been sold.

All housing developers in the state have been mandated to register with the State Housing Board to facilitate data compilation on housing, especially on unsold houses.

Buyers can make comparisons and decision from information gathered on project locations, price, type of house and the developer which are available at the one-stop centre.

One-stop Centre’s Objective

To provide accurate information to the people on government and private housing projects. To tackle the glut in Bumiputera quota houses which have not been taken up. To boost competitive edge through improvements and efficiency of the government’s public

delivery system to the people. To attract more house buyers among Bumiputeras in particular and the people in general to

buy the first home. To assist people in making comparisons and decision in opting for the right house to suit their

taste without having to go to the developers’ office several times.

COMMERCIAL PROPERTY IN KLANG VALLEY

25. Commercial Building Transaction in Kuala Lumpur (Bursa Malaysia, 06-Oct-2011)

26. Commercial Building Transaction in Sepang, Selangor (Bursa Malaysia, 07-Oct-2011)

Location Menara MBMR, Tempat Sungei Puteh, Kuala Lumpur

Vendor Inai Benua Sdn Bhd and Federal Auto Holding Berhad (the Proprietor)

Purchaser BP Plastics Sdn Bhd

Title details Held under Geran Mukim 842, Lot 15

Mukim/ District District of Kuala Lumpur, State of Wilayah Persekutuan Kuala Lumpur.

Description The property consists of two units of office suites at Menara MBMR to be constructed

on the Land.

Land area 2,525 sq ft

Price RM2,454,300.00


Location Mukim of Dengkil, District of Sepang, State of Selangor Darul Ehsan

Vendor Shaftsbury Capital Sdn Bhd

Purchaser ID Worldwide Sdn Bhd [a wholly-owned subsidiary of PUC Faounder (MSC) Berhad]

Title details Held under Master Title No. GRN 169497, Lot No. 33070

Mukim/ District Mukim of Dengkil, District of Sepang, State of Selangor Darul Ehsan


Description The said properties are two commercial buildings of Block C and Block A. Block C is an

office unit known as iTech Tower, Parcel No. C-02-05, level 2, Type C3. Whilst Block A is

a SOHO units, Parcel No. A17-11, Level 17, Type C1.

Land area 570,261 sq ft / 5.2979-hectare

Price RM921,7000.00


RESID

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27. More retail units for The Atmosphere’s latest release (The Edge Property, 14-Oct-2011)

PROJECT NAME Dubbed Lava / The Lava (phase 2E-the final phase of phase 2)

Location The Atmosphere, Seri Kembangan, Selangor

Developer The Atmosphere Sdn Bhd (a joint venture between Tempo Properties Sdn Bhd and

Eksons Corp Bhd)

Type Retail

Total

development

area

The lava : 1.9-acre / 0.77-hectare

The Atmosphere : 53-acre / 21.45-hectare

Tenure Leasehold

Launching date October 2011

Completion date 3Q 2013

GDV RM80 million

Units 54 units

Sales Rate 30% booked during the launch

Built-up area 1,543.54 sq ft – 3,848.10 sq ft / 143.4 sq m – 357.5 sq m

Developer selling

price RM783,000.00 – RM3,280,000.00 / RM400.00 – RM600.00 per sq ft

Notes The Lava, which is Singapore Green Mark certified, is made up of three floors with a multipurpose atrium area and naturally ventilated courtyard plazas. Each level is planned to enhance patronage at street level.

The central courtyard creates depth while the elevated street level provides the link to the upper and lower levels. This creates the impression of unlimited retail floor space.

28. PKNS to open more vio business centres in Klang Valley (Bernama, 17-Oct-2011)

Descriptions Selangor State Development Corporation (PKNS) plans to set up several more of its virtual office (Vio) by PKNS business centres in the Klang Valley and expected to be implemented by 2012.

This is encouraged from a good response of the first Vio branch in Shah Alam the PKNS BizPoint.

Moreover, a study is being conducted in Petaling Jaya and Kuala Lumpur areas shows there is high demand on Vio.

According to PKNS general manager Othman Omar, PKNS have the benefit of many premises including in Jalan Bukit Bintang and in Petaling Jaya have Menara PKNS.

PKNS BizPoint Cost: PKNS BizPoint in Seksyen 7, Shah Alam cost a total of RM1.5 million for the renovation,

hardware and software purchase as well as furnishing. Offers:

This virtual business centre, which set up by PKNS' Entrepreneurs Development Division, offers an alternative to those wishing to have an office without incurring a high set up cost.

The Vio by PKNS offers two packages of a virtual corporate office and an executive office which suitable for those just entering the business field but with a limited budget.

The entrepreneurs can choose to either rent an office or carry out their businesses virtually, using all the available facilities at the centre.

The virtual office meanwhile can house up to 300 companies. Services offered include office administrative functions such as receptionist, answering of

telephone and faxes, private post box, mail and courier management. It also offers three meeting rooms, two discussion rooms, as well as two lobby areas and one

boardroom. Demand:

More than 55 companies from various sectors such as oil and gas, construction, consultancy, legal and financial areas have registered while another 13 physical offices have been rented out and PKNS are adding another 12 more units.

CO

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29. Commercial Building Transaction in Ulu Langat, Selangor (Bursa Malaysia, 19-Oct-2011)

30. Sunrise sells 90% of Arcoris Suites before launch (The Edge Property, 21-Oct-2011)

PROJECT NAME Arcoris Suites

Location Mont’ Kiara

Developer Sunrise Bhd (a wholly-owned subsidiary

of UEM Land Holding Bhd)

Type Business suites

Total development

area 261,360 sq ft / 6-acre


GDV RM1 billion (estimated GDV for the

entire project of Arcoris Mont’Kiara)

Units 262 units

Sales Rate 90%

Built-up area 660 - 850 sq ft

Developer selling

price From RM383,000 onwards / RM660 per sq ft

Notes Arcoris Mont’Kiara formerly known as MK20 is made up of two blocks of different heights of 18 and 35 storeys.

The 18-storey tower will house the serviced residences with 331 units, with built-ups starting from 850 to 2,000 sq ft.

Whilst the 35-storey tower will house the hotel (approximately 275 rooms with built-ups from 350 to 1,000 sq ft), the SoHo units (approximately 368 units with built-ups from 450 to 1,000 sq ft) and the Arcoris Suites.

The retail component (50 units) will be in a central plaza that links the two towers. The entire development will eventually have a total of 1,470 parking bays.

Location Cheras, Ulu Langat

Vendor Platinum Starhill Sdn Bhd

Purchaser Luxury Parade Sdn Bhd (a wholly-owned subsidiary of Bonia Corporation Berhad)

Title details Held under Master Title H.S.(D) 131905, PT No. 49975

Mukim/ District Mukim of Cheras, District of Ulu Langat, State of Selangor


Description Property 1 is Block A comprises of 8 parcels under unit No. LG2, LG1, Level 1, Level 2,

Level 3, level 4, Level 5 and Level 6. Whilst property 2 is Block B comprises of 7 parcels

under unit No. LG1, Level 1, level 2, Level 3, Level 4, Level 5 and Level 6. Developer

intends to develop the said land as a stratified commercial development comprising of

three (3) blocks of multi-storey buildings (collectively "Building") comprising of offices,

and car parking bays in the project together with the facilities as specified in the Second

Schedule ("Project") of the SPA.

Built-up area Property 1: 65,574

Property 2: 32,838

Total : 98,412

Land area 65,253 sq ft / 1.498-acre

Price RM44,286,749.00


An artist impression of Arcorist Mont’Kiara

CO

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CO

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31. New commercial project in Cyberjaya (The Star, 28-Oct-2011)

PROJECT NAME Glomac Cyberjaya 2

Location Along persiaran Apec, Cyberjaya

Developer Glomac Berhad

Type Commercial project


Units 55 units of 3-storey, 3½-storey and 4½-storey shop offices

24-storey office tower

Built-up area From 3,300 sq ft onwards

Developer selling

price From RM1.29 mil onwards

Notes The proposed for Glomac Cyberjaya 2 is due to the successfulness of Glomac

Cyberjaya phase 1 and 2 which expected to be completed by end of 2011.

Glomac Cyberjaya phase 1 and 2 features 63 units of 3-storey shop offices, being

built on part of the 3.64-hectare tract and is fully sold.

COMMERCIAL PROPERTY IN NORTHERN /EASTERN PENINSULAR

32. Axis REIT to buy RM48.5m assets (The Star, 27-Oct-2011)

Axis Real Estate Investment Trust (REIT) has proposed an acquisition and leaseback of a three-storey

office block and a logistic warehouse complex for RM48.5mil cash from DHL Properties (M) Sdn Bhd.

The agreement was entered into by OSK Trustee Bhd, the trustee for Axis REIT.

The 3.08-hectare land is located in Barat Daya district, Penang.

The proposed acquisition and leaseback of the properties is consistent with the investment objective

and strategy of Axis REIT and it will be accretive to Axis REIT's distributable income.

It will also diversify and enlarge Axis REIT's portfolio of properties and is expected to benefit in the

long term from economies of scale.

http://archives.thestar.com.my/search/?q=Axis%20Real%20Estate%20Investment%20Trust

http://archives.thestar.com.my/search/?q=DHL%20Properties%20(M)%20Sdn%20Bhd

http://archives.thestar.com.my/search/?q=OSK%20Trustee%20Bhd



HOTEL

33. Luxury hotel to attract more tourists (The Star, 20-Oct-2011)

Development The Heritage (a luxury boutique residence)

Location UNESCO designated heritage city (in the centre of

Malacca’s major tourist attractions)

Developer Seni Pujaan Sdn Bhd in a joint venture effort with

Yayasan DMDI

Launching Launched by Chief Minister Datuk Seri Mohd Ali

Rustam

Total units 261 units consists of:

68 units of studio apartments

35 units of studio apartments with kitchenette

32 units of business suites

113 units of two-bedroom apartments

2 units of three-bedroom apartment

11 units of double-storey commercial units

Notes This proposed hotel is sported as the best of both worlds – a colonial-inspired design

fully furnished with modern amenities.

Developer is confident that the project will contribute to the development of the

tourism industry in Malacca.

INDUSTRIAL PROPERTY IN KLANG VALLEY

34. Industrial Building Transaction in Port Klang, Selangor (Bursa Malaysia, 07-October-2011)

Location No. 12, Jalan Selat Selatan 21A, Sobena Industrial Park, 42000 Port Klang.

Vendor Asia Bioenergy Technologies Berhad

Purchaser Fancy Bounty Sdn Bhd

Title details Held under H.S.(D) No. 15720, P.T. No. 11584

Mukim/ District Mukim and District of Klang, State of Selangor


Description The property is a land with one and half storey semi-detached factorey. The age of

building is approximately 26 years old. The property is currently entirely occupied by

the Vendor for its incubation activities. .

Land area 16,501 sq ft / 1,532.94 sq m

Price RM2,300,000.00


An artist impression of The Heritage

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35. Industrial Building Transaction in Port Shah Alam, Selangor (Bursa Malaysia, 18-October-2011)

INDUSTRIAL PROPERTY IN NORTHERN /EASTERN PENINSULAR

36. Industrial Building Transaction in Kedah (Bursa Malaysia, 17-October-2011)

37. Industrial Building Transaction in Kedah (Bursa Malaysia, 20-October-2011)

Location No. 10, Jalan Astaka U8/84, Seksyen U8, 40150 Shah Alam, Selangor Darul Ehsan.

Vendor Simple Hope Sdn Bhd

Purchaser Vertical Plus Sdn. Bhd. (subsidiary of Progressive Impact Corporation Berhad)

Title details Held under Master Title H.S.(D) 58820, PT No. 64234

Mukim/ District Mukim of Damansara, District of Petaling, State of Selangor


Description The property is a land together with a building of 13 years old known as Bangunan

BKA erected thereon. The property is at present built upon with a six-storey

warehouse cum office building, together with a level of basement car park and a

guardhouse.

Built-up area 237,828 sq ft (with net lettable area of 150,114 sq ft)

Land area 64,056 sq ft / 5,951 sq m

Price RM40,000,000.00 / RM168.09 per sq ft


Location No. Lot 511, Kampung Teluk Wang, Jalan Batu Lintang, Sg. Pasir, 0800 Sg. Petani,

Kedah.

Vendor Poh Keong Industries Sdn Bhd (a 51% owned subsidiary company of USD Capital

Berhad)

Purchaser Chao Sen Steel Sdn Bhd

Title details Held under H.S(D) 1739/97, PT 20693 (now known as Geran 149344, Lo No. 20642)

Mukim/ District Mukim of Kuala Pasir, District of Kuala Muda, State of Kedah


Description The property is a plot of industrial land together with single storey detached factory

and office erected thereon.

Land area 261,390.80 sq ft / 24,284 sq m

Price RM1,950,000.00


Location Free Industrial Zone (Phase 1), Bayan Lepas Industrial Park.

Purchaser Dufusion Sdn Bhd (a wholly-owned subsidiary of Dufu technology Corp. Berhad)

Land tenure Leasehold (property 2 is currently under a lease of 30 years to TNB and Dufusion will

continue leasing the Property 2 to TNB upon completion of the Acquisition)

Description Property 1 is a single storey factory with estimated 7 years old which has been

vacant since early 2011. DUFU intends to use the property to cater for future

expansion for its existing business activities in metal fabrication, machining and

assembly product (electrical and electronic product).

Land area Property 1: 51,447 sq ft / 1.18504-acre

Property 2: 66,343 sq ft / 1.52395-acre

Price RM9,000,000.00

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38. Industrial Building Transaction in Pulau Pinang (Bursa Malaysia, 25-October-2011)

INDUSTRIAL PROPERTY IN SOUTHERN PENINSULAR

39. Industrial Building Transaction in Johor (Bursa Malaysia, 27-October-2011)

Location No. 88A, Lintang Bayan Lepas 9, Kawasan Perindustrian Bayan Lepas, Phase IV,

11900 Bayan Lepas, Penang.

Vendor DHL Properties (Malaysia) Sdn Bhd

Purchaser OSK Trustees Berhad (the trustee for Axis-REIT)

Title details Held under H.S(D) 4021, Lot No. 12173

Mukim/ District Mukim of 12, District of Barat Daya, State of Pulau Pinang

Land tenure Leasehold of 60 years (expiring on 22 January 2062)

Description The property is a 3-storey office block and a logistic warehouse complex with

estimated age of building approximate 11 years old. The property is currently 100%

occupied.

Gross floor area 231, 940 sq ft

Land area 3.083-hectare / 30,830 sq m

Price RM48,500,000.00


Location No. 100, 98, 35, 33 & 31, Jalan Seroja 39, Taman Johor Jaya, 81 100 Johor Bahru,

Johor.

Vendor Apparel International Sdn Bhd [(formally known as Crocodile Sdn Bhd) a wholly-

owned subsidiary of Amtek Holdings Berhad]

Purchaser Lim Keng Ann and Tan Lian Chai

Title details Held under Geran Nos. 243159, 243160, 242988, 242988, 242991 and 242995, Lot

Nos. 51245, 51246, 51182, 51183 and 51184

Mukim/ District Mukim of Plentong, District of Johor Bahru, State of Johor


Description The property consists of 5 pieces of land together with 5 units of 1½-storey factory

buildings erected thereon. The age of the buildings is approximately 22 years old.

The property is currently rented to 3 tenants utilizing all lettable/usable area with an

aggregate monthly rental of RM12,700.00

Land area 20,405.68 sq ft / 1,895.75 sq m

Price RM2,650,000.00


IND

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INFRASTRUCTURE

40. Work to begin on Station 6 (The Star, 04-Oct-2011)

Part of jalan SS 18/6 in Subang Jaya will be closed for construction work on Station 6 of the Kelana jaya

LRT extention project starting from Oct 10. The road closure will affect the stretch between Jalan SS

18/4f and Jalan SS 18/4g.

Subang Jaya assemblyman Hanna Yeoh said the Subang Jaya Municipal Council (MPSJ) would take

precautions before work started to ensure the safety of motorists and residents. Subsequently any

damage caused due to the construction will be covered.

This preliminary test piling work is expected to take 62 days. According to MPSJ engineering

department deputy director Mohd Ariffuddin Ismail said the tests will be conducted from Monday to

Saturday from 8am to 5pm.

Prasarana’s main contractor Trans Resources Corporation senior project manager Zabri Ahmad Shah,

who will be overseeing the test said, noise and light vibrations should be expected only during the first

week.

The next road closure for guideway test piling work will be at the end of jalan Jengka near the Kesas

Highway and the junction of Jalan SS 14/7g and Jalan SS 18/1a.

41. Work on MY Rapid Transit expected to begin next year, says MRT Co (Bernama, 12-Oct-2011)

PROJECT NAME Klang Valley MY Rapid Transit (KVMRT)

Developer Handed over by Syarikat Prasarana Negara Berhad (Prasarana) to MRT Co (a Ministry of

Financial Incorporated company)

Construction

date 2Q /3Q 2012 (expected)

Notes The MRT project was announced by Prime Minister Datuk Seri Najib Razak during

the tabling of the 10th Malaysia Plan (2011-2015) in June 2010.

This project is expected to not only increase the current inadequate rail network but

also alleviate the severe traffic congestion in the Greater KL metropolitan area.

The MRT Co managing director, Shahril Mokhtar said Prasarana would remain a key

partner in the project and the process of consultation between the two parties

would continue, with MRT Co and Prasarana giving the Project the utmost attention

and focus it deserve.

42. Second Penang Bridge expected to be ready earlier than scheduled (Bernama, 17-Oct-2011)

The Second Penang Bridge which is 65%

completed, is expected to be ready earlier than

November 2013, the deadline.

According to Works Minister Datuk Seri

Shaziman Abu Mansor, with the earnest effort

put in by the contractor plus good weather

conditions , it is confident the project would be

ready two months earlier than scheduled. He

added that the project contractor expects

Penang Bridge will 70% completes by the end of

2011 which is 2% ahead of the schedule. Second Penang Bridge: The 24 km bridge, which

connects Batu Maung on the island and Batu Kawan on

the mainland is the longest in Southeast Asia.

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43. UEM, Najcom to build hospital? (TheEdge Property,19-Oct-2011)

44. Taylor’s builds RM110m international school in Puchong (The Edge Property, 21-Oct-2011)

Taylor’s Education Group is investing RM110 million to build a new international school in Puchong,

Selangor.

The school will be located on a 7.8-acre site and carter for more than 2,000 students, with the first

phase to open in 2014 with an initial intake of 1,000 students.

Taylor’s International School division president B K Gan, believes that the proposed school has

potential to contribute and enrich the growing communities adjacent to the school. He added, the

school will ‘place a lot of emphasis on values like respect and care for family and community as a

whole.

45. Glenn Marine pitches for new port (Business Time, 25-Oct-2011)

According to Port Klang Authority chairman Datuk Teh Kim Poo, Glenn Defense Marine (Asia) Sdn Bhd

(GDMA) which is the owner and operator of the Port Klang Cruise Centre (PKCC) in Pulau Indah has

come up with a proposal to convert the

country's first cruise terminal into Port Klang's

third container port.

GDMA bought over PKCC from Star Cruises

Terminal Sdn Bhd for RM118 million in 2009.

GDMA is part of the Glenn Marine Group of

Companies which is partly owned by Lembaga

Tabung Angkatan Tentera (LTAT).

Datuk Teh Kim Poo added, GDMA had

submitted their proposal to the port

authority, and there are no oppositions from

them. However, it is up to GDMA to get the

approval of the Ministry of Transportation.

Location Jalan Abdul Samad, Johor Bahru (within 3.5 km from the new CIQ Complex)

Purchaser Grandeur Park Sdn Bhd (subsidiary of Hua Yang Bhd)

Total Land area 91,476 sq ft (2.1-acre)

Total GDV RM120 million

Notes Hua Yang intends to develop the Land into residential development comprising

serviced apartments with prices starting from RM150,000 for a studio apartment up

to RM400,000 for a 3-bedroom apartment.

The purposed serviced apartment is equipped with facilities and security, catering

for young professionals and families working in Johor Bahru and Singapore.

The said land is located at strategic location which is close to the Thistle Hotel, Tun

Aminah General Hospital, has direct access to Johor Bahru Inner Ring Road and

connected to the Coastal Highway that leads to Nusajaya.

An aerial view of the Port Klang Cruise Centre

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OVERSEA

46. Ireka wins Vietnam hospital contract (The Star, 01-Nowember-2011)

Ireka Corp Bhd has been awarded an RM85.1mil contract by Hoa Lam-Shangri-La 1 Limited Liability Co for the construction of the nine-storey City International Hospital at the International Hi-Tech Healthcare Park (IHHP) in Binh Tan District, Ho Chi Minh City, Vietnam.

The contract which comprised the architectural, mechanical, electrical, external and ancillary works for the proposed hospital was clinched via, Ireka Engineering (subsidiary of Ireka Crop Bhd) and Construction Vietnam Co Ltd (IECVCL).

The construction work for City International Hospital will be completed by fourth quarter of 2012. This hospital will be operated by ParkwayHealth, the Asia's leading and largest private healthcare service provider based in Singapore.

City International Hospital is part of the 37.54 hectare IHHP project, which will consist of world-class private hospitals and mixed-commercial, hospitality and residential developments.

47. Best Western wins best mid-range hotel again (The edge Property, 07-Oct-2011)

An awards ceremony was held recently at the Centara Grand & Bangkok Conventions Centre in

Bangkok, Thailand.

During the ceremony, Hotellier Best Western International, for the fifth consecutive year, has been

awarded the title of Best Mid-Range Hotel Brand during the 22nd Annual TTG Travel Awards 2011.

Since the introduction of the Best Mid-Range Hotel Brand award in 2007, Best Western has been the

only company to clinch the title.

The chain also won the title of Best Marketing & Development Effort of the Year, an award the chain is

receiving for the third straight year.

According to Best Western vice president of international operations for Asia & Middle East Glenn de

Souza, it is a true honour to be selected as winners year after year.

Dubbed the world's largest hotel chain, Best Western provides marketing, reservations and

operational support to over 4,000 independently owned and operated member hotels in over 90

countries worldwide.

OV

ERSEA

http://archives.thestar.com.my/search/?q=Ireka%20Corp%20Bhd

http://archives.thestar.com.my/search/?q=Limited%20Liability%20Co

http://archives.thestar.com.my/search/?q=Limited%20Liability%20Co

http://archives.thestar.com.my/search/?q=Ireka%20Engineering%20And%20Construction%20Vietnam%20Co%20Ltd%20(IECVCL)

http://archives.thestar.com.my/search/?q=Ireka%20Engineering%20And%20Construction%20Vietnam%20Co%20Ltd%20(IECVCL)



48. S’pore private home sales surge (The Star, 19-December-2011)

Singapore’s new private home sale has increased to

21% with 1,631 units sold in September compared

to 1,351 units in August.

Including executive condominium (EC) units, the

number swelled to 2,064 units. According to Li Hiaw

Ho, the executive director of CBRE Research, the

high September volume was mainly supported by

mass-market and upgrader-type projects, with a

total 433 EC units sold in September, compared

with 290 in August.

The chief executive officer of PropNex Realty,

Mohamed Ismail said, current savvy home buyers

are taking the mid- to long-term perspective to

investigating in a home in Singapore. Overall, the mass-market homes are predicted to be the driving

force for the private property segment in the next three months. However, this forecast is not

withstanding any unforeseen disaster or economic downturn.

Li added, developers were monitoring the impact of the eurozone crisis on the Singapore economy to

time their project launches and expect the total new home sales volume in 2011 to exceed the 14,688

units sold in 2009, but it remains to be seen whether it can outdo the record 16,292 units sold in 2010.

49. HK office space still costliest (The Star, 25-December-2011)

According to research from a property brokerage, Collier International, Hong Kong continues to be the

most expensive place in the world to rent office space.

Collier International added despite an expected slowdown over the next 12 months, Hong Kong would

likely retain its world-leading position.

Hong Kong topped the rankings for the world’s most expensive cities to rent office space, ahead of

Landon’s West End, Paris, Tokyo and the City of London.

50. Vietnam October deficit narrow (The Star, 25-December-2011)

Vietnam’s trade deficit in October is estimated to slip by nearly half from last month to US$800mil, the

state-backed news website ndhmoney.vn reporting, citing government data.

Exports were likely to rise 4.5% from September to US$8.3bil while imports were down by 3.7% to

US$9.1bil, it quoted the General Statistics Office as saying.

The country recorded a trade deficit at US$8.4bil in the first ten months of the year, with exports at

US$78 bil, it said.

Boost from upgraders: Residents of Housing and Development Board in Singapore have lifted

property sales as they move on to better homes.

OV

ERSEA

http://archives.thestar.com.my/search/?q=Li%20Hiaw%20Ho

http://archives.thestar.com.my/search/?q=Li%20Hiaw%20Ho

month: october 2011 issues: 10 /2011 property 2011.pdf · compared to singapore, malaysia reit...

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