TH, Naza in property tie-up
bBy THE STAR/bbr /bbr //bbr /bSUBANG JAYA:/b TH Properties Sdn Bhd and Naza Properties Sdn Bhd have formed a strategic alliance to develop a high-end residential project with a gross development value of RM100mil.br /br /TH Properties chief executive officer Zaharuddin Saidon said the project would involve 52 single and double-storey luxury bungalows with Italian concept in Bandar Enstek, which borders Negri Sembilan and Selangor.br /br /?We plan to launch this project in June,? he told a press conference after the signing of a memorandum of understanding (MoU) between TH Properties and Naza Group yesterday.br /br /TH Properties, the development manager of Bandar Enstek, is a wholly-owned subsidiary of Lembaga Tabung Haji while Naza Properties is a unit of Naza Group.br /br /br /Naza Group joint group executive chairman Datuk S.M. Faisal S.M. Nasimuddin said the company was exploring the possibility to bundle the luxury property products with cars under the Naza Group.br /br /?The type of cars will depend on the demographic of the buyers and we are in the midst in finalising the details,? he said.br /br /Faisal pointed out that the synergy between two companies promises endless possibilities and there were many aspects that they could share. ?The MoU also marks the collaboration between TH Properties and Naza Group in identifying and participating in various fields in the future,? he said.br /br /Faisal said future collaboration could be in any field that Naza Group was currently involved such as auto, finance, property management, insurance, plantations, agriculture and transportation.br /br /?This (signing of MoU) is just a starting point and we are in the midst of identifying more projects to work together,? he added.br /br /img src="http://starproperty.my/images/CMS/b_pg04saidon.jpg" /br /br /i- Property News Malaysia/idiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-9220063198001374066?l=www.malaysiapropertynews.net' alt='' //div

Bolton gears for RM1b property launches
bBy BUSINESS TIMES/bbr /bbr //bbr /bPROPERTY/b developer Bolton Bhd (1538) will launch four projects worth RM1 billion this year as it is bullish on the market, its chief said.br /br /Executive chairman Datuk Azman Yahya expects its property sales to improve 50 per cent next year to some RM425 million.br /br /For the financial year ending March 31 2010, Bolton expects to achieve RM283 million in property sales.br /br /"During the slowdown two years ago, we were concerned about the ability of banks to lend, so we reduced our launches. But surprisingly, we came out of the global slowdown unscathed and the pick-up (in economy and property) has been good.br /"Our sales improved in the last two quarters and we are seeing a pent-up demand," Azman said.br /br /He said that with a low gearing and some RM60 million cash in hand coupled with new sales, Bolton was on a good financial footing to launch new projects.br /br /It has 240ha of landbank in the Klang Valley and Penang, with expected sales of more than RM2 billion to drive the company's growth.br /br /In the financial year ended March 31 2009, the developer posted net profit of RM18.3 million on revenue of RM292 million. Property sales contributed the bulk of earnings, with the rest coming from its investments in properties.br /br /On the redevelopment of the 12-storey "Bolton Court" in Bukit Ceylon, Kuala Lumpur, Azman said the company will start building a 33-storey condominium block on the site six months from now, to be named "sixceylon".br /br /"Although Bolton Court contributes positively to our investment earnings, we feel it's time to redevelop it to create a new landmark in Bukit Ceylon," he said.br /br /The company built Bolton Court, comprising 20 condominium units, in the mid-1970s and retained the apartments for recurring income.br /br /Sixceylon will feature 215 condominium units with built-ups ranging from 696 sq ft to 1,555 sq ft.br /br /At the unveiling yesterday, Azman said the units will be priced from RM750 per sq ft to RM900 per sq ft each, or from RM600,000 to RM1.2 million. In comparison, prices of new residential units in Bukit Ceylon range between RM900 per sq ft and RM1,100 per sq ft.br /br /"Based on feedback, I am confident we will have a market for sixceylon. We are targeting foreigners and young Malaysians," Azman said, adding that investors can expect 7-8 per cent returns.br /br /Sixceylon will be launched to the public in June, following which Bolton will introduce "Wharf", a mixed waterfront development in Puchong, Selangor, and "Arata" at Kenny Hills and "51 Gurney" at Persiaran Gurney in Kuala Lumpur.br /br /img src="http://www.btimes.com.my/articles/Bolton9/pix_topright" /br /br /i- Property News Malaysia/idiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-3803955553956870434?l=www.malaysiapropertynews.net' alt='' //div

Naza, TH Properties team up
bBy BUSINESS TIMES/bbr /bbr //bbr /bNAZA/b Group of Companies and TH Properties Sdn Bhd have agreed to work together in identifying and participating in various initiatives that the two can collaborate in.br /br /Naza signed a memorandum of understanding with TH Properties on this matter yesterday.br /br /The first venture involves the development of 52 high-end residential enclave bungalows with a gross development value of RM100 million at Bandar Enstek, Selangor.br /br /Naza Properties Sdn Bhd, a company under the Naza group, and TH Properties are expected to jointly develop the luxury bungalows.br /It is understood that the project, which is specifically targeted at the Malaysia My Second Home (MM2H) market, will see the properties bundled with vehicles from Naza.br /br /"We are still working on the mechanism of partnership, but the idea is to provide lifestyle solutions for buyers of the properties," Naza Group joint group executive chairman Datuk SM Faisal Tan Sri SM Nasimuddin told reporters in Petaling Jaya yesterday.br /br /He declined to reveal which of Naza's dealerships would be involved in the deal.br /br /Naza holds the distributorship for Maserati, Ferrari, Chevrolet, Kia and Peugeot cars in Malaysia.br /br /The Italian-inspired designs for the luxury bungalows bodes well with Naza, as it has several luxury brands under its stable.br /br /"I believe this is an avenue that we can cooperate in to provide the ultimate luxury experience within the project's framework," Faisal said.br /br /The home with a car/bike promotion is especially targeted at the MM2H market due to the unique nature of the programme that allows foreigners to purchase a new car made or assembled in Malaysia, and be exempted from paying excise duty and sales tax on the new car.br /br /"The synergy between our two companies promises endless possibilities. There are many aspects that we could share with each other, especially with each of these companies having varying experiences and capabilities," Faisal said.br /br /On the development of Bandar Enstek, TH Properties chief executive officer Zaharuddin Saidon said, 30 per cent of the 586.38ha it covers have been developed and sold.br /br /img src="http://www.btimes.com.my/articles/pnz/pix_topright" /br /br /i- Property News Malaysia/idiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-60170348287278287?l=www.malaysiapropertynews.net' alt='' //div

Kulim sells property
bBy BUSINESS TIMES/bbr /bbr //bbr /bDIVERSIFIED/b palm oil group Kulim (M) Bhd is selling its property Menara Ansar in Johor, to AmanahRaya Trustees Bhd for RM105 million. br /br /Kulim will be paid partly in cash of RM63 million, while the remainder will be through the issuance of 42.9 million new units of Al-'Aqar KPJ Real Estate Investment Trust (REIT) at an issue price of 98 sen per unit. br /br /AmanahRaya is the trustee of Al-'Aqar REIT. br /br /Kulim managing director Ahamad Mohamad said proceeds from the divestment will be utilised for repayment of the group's borrowings.br /br /i- Property News Malaysia/idiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-968752769086517065?l=www.malaysiapropertynews.net' alt='' //div

Frobisher Crescent, BArbican, London EC2
Frobisher Crescent, BArbican, London EC2.br /br /A stunning new development of 69 studio, one, two and three bedroom apartments at one of London's most iconic addresses.br /br /Visit a href="http://www.frobishercrescent.com/"www.frobishercrescent.com/abr /br /a href="http://farm5.static.flickr.com/4010/4419858988_44c1f0c645_o.jpg"img src="http://farm5.static.flickr.com/4010/4419858988_87d1ddb100.jpg" //abr /br /i- London Property For Sale/idiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-9182302362039817346?l=www.malaysiapropertynews.net' alt='' //div

Malaysia International Luxury Properties Exhibition
Malaysia International Luxury Properties Exhibition.br /br /23 - 25 April 2010, KLCC Malaysiabr /br /a href="http://farm5.static.flickr.com/4042/4419097729_45fd841acc_o.jpg"img src="http://farm5.static.flickr.com/4042/4419097729_b9343470c4.jpg" //adiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-763252871463092042?l=www.malaysiapropertynews.net' alt='' //div

Buying Properties With NO MONEY DOWN
Buying Properties With NO MONEY DOWN.br /br /From the original world-famous Authour and Real Estate Investor - how to buy properties with no money down.br /br /a href="http://farm3.static.flickr.com/2736/4417427290_8efd3acb17_o.jpg"img src="http://farm3.static.flickr.com/2736/4417427290_8ec81308d2.jpg" //adiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-6425602403932549130?l=www.malaysiapropertynews.net' alt='' //div

Good turnout at ONE Australia Property Fair
bBy THE STAR/bbr /br /A group of established and reputable property developers and real estate agencies from Australia showcased their projects at the ONE Australia Property Fair which was held on March 6 and 7 at Cititel Mid Valley, Kuala Lumpur.br /br /Organised by Cyan Event Management, the fair showcased over 15 new prime projects in major cities such as Melbourne, Sydney and Perth, as well as the state of Queensland . There were diversity in types of property presented, from luxury waterfront projects to affordable student-apartment units and also townhouses, landed properties and commercial units.br /br /img src="http://starproperty.my/CMSFiles/image/PropertyScene/australia1.jpg" /br /iEnthusiastic investors visit ONE Australia Property Fair/ibr /ibr //ibr /When asked about visitors? response, Cyan Event Management managing director Charles Yong replies, ?We had a very good turnout of approximately 2,500 visitors, which is 25% more than last year?s fair. Most people expressed genuine interest to buy and invest in Australian properties. According to past records, landed properties in some major Australian cities sold in 2002 for around AUD320,000 can now fetch about AUD700,000. More recently, landed properties in Melbourne have shown a yearly 18% price increase. For example, the prices of such properties have gone up by 10% in Box Hill and other parts of East Melbourne during this exhibition, when compared to our previous showcase in August last year.?br /br /Visitors were treated to a seminar titled ?ONE Australia Property Seminar? which featured a series of interesting topics such as Investing In Australia - Your Choice of State, Property Investment in Western Australia, Australia - Your Migration Options, Living amp; Studying In Australia, and Transparencies and Clarity in Understanding Australian Property Investment amp; Finance. Guest speakers include Marcus Gilmore, Samantha Payne, James Tan, Danny Ong and Leonard Ng.br /br /MLG Realty managing director Marcus Gilmore commented that the turnout was much better than expected. He continues, ?Visitors were already at the entrance at 10am even though the fair opens at 11am.?br /br /?Overall, our exhibitors were satisfied with last weekend's One Australia Property Fair. Many said it attracted more quality visitors than other South East Asian exhibitions promoting Australian properties,? says Yong.br /br /i- Malaysia Property News dot net/idiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-7487486051135201925?l=www.malaysiapropertynews.net' alt='' //div

Bolton targets RM1b from 4 new properties
bBy BERNAMA/bbr /bbr //bbr /bBolton Bhd is targeting a gross development value of RM1 billion from four new properties to be launched this year./bbr /br /Executive Chairman Datuk Azman Yahya said the four new properties would be located in prime locations.br /br /"The much-awaited "Sixceylon" development in Jalan Bukit Ceylon will be launched in June," Azman said during the unveiling of the project here today.br /br /The Sixceylon will be built on where the current Bolton Court is located.br /The existing 12-storey Bolton Court, completed in the late 1970s, will be redeveloped and transformed into a modern development comprising a 33-storey apartment building priced between RM600,000 and RM1.2 million per unit. br /br /The Bolton Court, with its design and location was well received by the expatriate community and many leading multinational corporations and foreign dignitaries have known it to be their home when in Malaysia, Azman said.br /br /"Although Bolton Court has contributed significant investment income for Bolton over the years, we believe the time is now right to redevelop the old and tired-looking building," he said.br /br /He also said the recent increase in interest rate is not expected to have a significant impact on the sales of property.br /br /"The increase of 25 basis point is still small," he said.br /br /"What is important is that there must be confidence that the financial market continues to support property projects," he added. br /br /i- Malaysia Property News dot net/idiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-4572088065788589296?l=www.malaysiapropertynews.net' alt='' //div

Golden Horses to launch Palace Residence this year
bBy BUSINESS TIMES/bbr /bbr //bbr /bGOLDEN/b Horses Development Bhd (GHD), a private firm owned by Tan Sri Lee Kim Yew, aims to launch its RM600 million Palace Residence Suite this year and market its property to Asian investors.br /br /Palace Residence is located at the Mines Resort City in Seri Kembangan, Selangor. It is being launched a year behind schedule due to the recession in 2009.br /br /There are more foreigners now, setting their eyes on new properties here, said Golden Horse Palace Bhd (GHPB) executive director Dianna Lee.br /br /"We have received a few enquiries on the property. There are people keen to buy. We are targeting foreign buyers and have appointed an international real estate agent," Lee said in an interview with Business Times recently.br /GHD and GHPB are sister companies, which means that they are both owned by the same major shareholder.br /br /GHD is targeting a June launch for the suites in Singapore, followed by Hong Kong, China and Malaysia towards the end of the year.br /br /Palace Residence will offer 226 one-bedroom suites with a built-up area of 500 sq ft, and 156 two-bedroom suites, ranging from 1,100 sq ft to 1,400 sq ft, as well as four penthouses. The suites are selling for RM900,000 to RM1.4 million each.br /br /The 19-storey Palace Residence, which is a combination of a hotel and condominium, will complement the 480-room Palace of the Golden Horses. Palace Residence will be built next to the five-star hotel and they will be connected by a bridge.br /br /GHD will include free golf membership, worth some RM800,000, in the property sale. Buyer will automatically be a resident gold member at the 18-hole golf course at the Mines, Lee said.br /br /Construction will start in the second half of 2010, and is due for completion within three years.br /br /Lee said buyers can lease their units to GHPB to manage, with guaranteed returns of 7 per cent for the first two years. The indicative selling price for each suite a night is from RM800.br /br /GHPB is the hospitality, leisure and health arm of Country Heights Holding Bhd (CHHB).br /br /It manages three resorts - Palace of the Golden Horses and Mines Wellness Hotel, located within the Mines, and Borneo Highlands Resort, Sarawak.br /br /The Mines, the country's first resort development, is a project by CHHB, in which, the senior Lee holds 48.1 per cent stake.br /br /img src="http://www.btimes.com.my/articles/PALACE5/pix_topright" /br /br /i- Malaysia Property News dot net/idiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-1218971760062162378?l=www.malaysiapropertynews.net' alt='' //div

UOA REIT may buy 2 buildings
bBy BUSINESS TIMES/bbr /bbr //bbr /bUOA/b Real Estate Investment Trust (REIT) (5110) is considering buying two office blocks in Kuala Lumpur for RM500 million.br /br /It received an offer from UOA Holdings, a substantial unitholder in UOA REIT, for the sale of Parcel B Menara UOA Bangsar and Wisma UOA Damansara II, priced at RM289 million and RM211 million respectively.br /br /"The board of directors of the manager (UOA Asset Management Sdn Bhd) and OSK Trustees Bhd (trustee) will deliberate on the terms and conditions contained in the offer letters and a further announcement will be made upon completion of the deliberation," UOA REIT said in a statement to Bursa Malaysia Bhd.br /br /Parcel B Menara UOA Bangsar, located in Jalan Bangsar Utama 1, comprises a tower block with 15 levels of office space, three levels of retail podium, six levels of elevated car park and four levels of basement parking.br /The newly completed commercial and retail property, which has a 99-year leasehold tenure, is 88.5 per cent occupied.br /br /Wisma UOA Damansara II, located at Changkat Semantan, comprises a 16-storey office building and five levels of basement parking. br /br /The two-year-old freehold property, used for commercial and retail purposes, is 87 per cent occupied.br /br /The purchase of Parcel B, Menara UOA Bangsar, will involve a refundable deposit of 0.01 per cent, or RM28,900; a cash payment of RM156.03 million; and the issuance of 102.26 million new REIT units.br /br /The purchase of Wisma UOA Damansara II will also involve a refundable deposit of 0.01 per cent, or RM21,100; a cash payment of RM113.92 million; and the issuance of 74.66 million new REIT units.br /br /i- Malaysia Property News dot net/idiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-7983627871874104167?l=www.malaysiapropertynews.net' alt='' //div

Permaju ventures into property development
bBy BUSINESS TIMES/bbr /bbr //bbr /bPERMAJU/b Industries Bhd, a timber company and car distributor, is diversifying into property development by buying 70 per cent of Har- die Development Sdn Bhd for RM33.68 million cash. br /br /Hardie is jointly developing an integrated commercial and residential properties known as Princess Heights in Sabah. Permaju is buying the firm from Datin Pang Fook Kyun and Andrew Sim. br /br /It will use internal funds and borrowings for the deal, due to be completed by the third quarter of this year. Pang is the wife of Datuk Lim Yen Ngiap, a substantial shareholder of Permaju. br /br /i- Malaysia Property News dot net/idiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-2951119540365540932?l=www.malaysiapropertynews.net' alt='' //div

HSL plans ambitious La Promenade project
bBy THE STAR/bbr /bbr //bbr /bKUCHING:/b Riding on the robust sales of its newly-launched guarded and gated residential estate The Leaf, Hock Seng Lee Construction Sdn Bhd has set its next ambitious target to build 1,000 high-end homes in a major mixed-development project in Sungai Kuap, along the Kuching-Samarahan Expressway.br /br /Named La Promenade, this single-biggest project ever undertaken by the property arm of Hock Seng Lee Bhd (HSL) will have a commercial centre of 200 shophouses, a shopping mall, two office blocks, a clubhouse and a man-made lake and recreational facilities.br /br /These are in addition to the 1,000 high-end homes in the guarded and gated residential estate.br /br /HSL plans to relocate its head office at Jalan Pending to La Promende in one of Sarawak?s fastest growing centres.br /br /img src="http://biz.thestar.com.my/archives/2010/3/8/business/b_07Leaf.jpg" /br /iYii Chee Sing (right) discussing the Leaf?s development with the company?s property development manager Benny Goh./ibr /br /Executive director Yii Chee Sing said with a gross development value (GDV) of RM900mil, La Promenade would be launched in the second half of this year.br /br /?Reclamation works for the project is already under way. The entire development spanning 80ha will be carried out in 10 phases over 10 years,? he told StarBiz.br /br /Yii said the company?s confidence of a strong demand in high-end residential homes was boosted by the nearly sold-out The Leaf, which would provide lifestyle living, comprehensive security system and attractive landscaping.br /br /He said more than 90% of the 54 luxurious contemporary duplex villas, semi-detached houses and double-storey linked houses at The Leaf, near Kuching International Airport, had been snapped up since its launch three months ago. The showhouses drew some 6,000 visitors on the opening day last November.br /br /?All the 34 semi-detached units priced between RM700,000 and RM1mil have been sold,? he said, acknowledging the current glut in the sales of conventional semi-detached houses priced in the RM400,000-RM500,000 range in the state capital.br /br /The Leaf boasts Sarawak?s first electrified perimeter fencing to deter and detect any intrusion. Its other security measures are vehicle access card entry, intercoms and panic alarms from each home to the guardhouse as well as round-the-clock patrols by trained guards.br /br /img src="http://biz.thestar.com.my/archives/2010/3/8/business/b_07Leaf_2.jpg" /br /iAn artist?s impression of a semi-detached house at The Leaf./ibr /ibr //ibr /?Housebuyers today are more sophisticated in choosing what they are going to invest in. Besides the house designs, they are particularly concerned about safety for a peaceful living,? said Yii.br /br /He said The Leaf?s entire development would provide an attractive environment with covered drains, leafy landscaping and, most notably, concealed utility services. There will be lush lawns, trees and shrubs in keeping with the estate name ? The Leaf.br /br /Other shared facilities for the house owners are a recreational park with a playground and a discovery fruit orchard for children.br /br /Yii said the La Promenade community would be modelled after The Leaf as there was a rising demand for lifestyle concept living that emphasised on security, landscape and recreational facilities.br /br /He said HSL Construction had built some 1,000 houses in the state capital in the past five years, including in the top-selling Samariang Aman project in Bandar Baru Samariang (GDV of RM110mil). All the 642 units priced between RM160,000 and RM220,000 in this ongoing residential development have been taken up.br /br /Yii said an innovative design introduced for the single-storey terrace houses in Semariang Aman was an internal countyard to bring extra light and ventilation to the centre of the home. This private garden space not only enhances the ambience of the house but also the quality of life of its occupants.br /br /On the drawing board is the proposed Samariang Aman II project ? a mixed commercial and residential development with over 220 shops, a hypermarket and a seven-storey office block.br /br /The company has just launched Vista Aman in Samarahan which involves the development of 60 houses. Its other residential developments are Highfields in Batu Kawa (175 units), Lavender Hills along Kuching-Serian Road (64 units) and Vista Parade in Sibu (38 units).br /br /HSL Construction has a landbank of some 285ha with good development potentials in both Kuching and Bintulu, with a total GDV of RM1.9bil.br /br /The size of the landbank is expected to increase as more construction contracts are secured by parent company HSL whereby payment is by way of cash and land. Most of the land it owns now was secured over the years as part-payment for state-funded infrastructure projects.br /br /?The property arm now contributes about 15% to the HSL group revenue, and between RM8mil and RM9mil a year to group profits,? said Yii.br /br /i- Malaysia Property News dot net/idiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-4775807023905275018?l=www.malaysiapropertynews.net' alt='' //div

Developers, analysts unperturbed by interest rate hike
bBy THE STAR/bbr /bbr //bbr /bPETALING JAYA:/b Developers and property analysts are not overly concerned about Bank Negara?s overnight policy rate (OPR) hike to 2.25% from a record low of 2%.br /br /Although Thursday?s rise in the benchmark interest rate was the first in almost four years, industry players do not expect property sales to be affected.br /br /According to ECM Libra property analyst Bernard Ching, despite the interest rate hike, bank financing will continue to be cheap with effective interest rates at 3.8% to 4% from the previous highs of 6.5% to 6.75% about two-and-a half to three years ago.br /br /?Going forward, we expect the OPR to rise gradually and the best thing to do is to lock in the current negative spread before the rates rise further,? Ching told StarBiz.br /br /He said the housing packages being offered by developers were providing a low entry cost for housebuyers and fuelling demand for houses.br /br /img src="http://biz.thestar.com.my/archives/2010/3/8/business/b_07Liew.jpg" /br /i»We see it as a normalisation of rates, given the improved economic outlook this year« TAN SRI LIEW KEE SIN/ibr /br /He expects these packages to continue for the next couple of months at least, as it would be premature to end them at this juncture.br /br /Ching said upper-middle range buyers, who have the capability to service their loans, were mostly buying for investment purposes.br /br /SP Setia Bhd president and chief executive officer Tan Sri Liew Kee Sin said the rise in the OPR was very minimal and that ?we see it as a normalisation of rates, given the improved economic outlook this year.?br /br /?Generally, interest rates are still low and remain attractive to house buyers. We do not see this affecting our property sales and are confident with our ongoing launches. We will continue with what we have planned for this year,? he added.br /br /Mah Sing Group Bhd group managing director-cum-chief executive Tan Sri Leong Hoy Kum said with the rates still far below historical highs, the affordability level of property buyers was still high.br /br /?We doubt that the rate hike will have any impact on property sales. This increase should be seen as a positive move as it indicates a normalisation which can curb inflationary pressures,? he said.br /br /Leong said the expected economic expansion, improvement in employment market, high savings and healthy affordability levels would contribute to higher demand for properties in the coming months.br /br /img src="http://biz.thestar.com.my/archives/2010/3/8/business/p1-leongqtchtp7.JPG" /br /br /Mah Sing will be capitalising on its branding, product quality, location, concept and track record to capture its market share and achieve its 2010 sales target of RM1bil.br /br /The company plans to have property launches in 10 new projects and four existing developments.br /br /i- Malaysia Property News dot net/idiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-9089236147464648032?l=www.malaysiapropertynews.net' alt='' //div

Pickup in industrial parks
bBy THE STAR/bbr /bbr //bbr /bTHE/b industrial property sector is expected to rebound this year as the supply has been stagnant in the last four to five years.br /br /?Since 2004, the prices of industrial land have appreciated as property developers venture into developing industrial parks as a new income avenue to overcome the softer property market,? says MIDF Research in a recent report.br /br /It adds that, currently, industrial players are on the lookout for more than the conventional designs.br /br /?Features such as gated and guarded concepts, super-sized terraces, underground cabling and covered drainage are value-added features in demand. We expect the trend of industrial parks being located in the vicinity of commercial areas, and close to highways, to continue in the future,? the report says.br /br /img src="http://starproperty.my/CMSFiles/Image/News/industrialpark1.jpg" /br /br /Nevertheless, it says niche concepts such as ?halal parks? and Technology Centres may remain in the offering to serve niche players.br /br /KGV-Lambert Smith Hampton (M) Sdn Bhd executive director Anthony Chua says the number of industrial properties transacted have shown a gradual increase of 13.6% from 2005 to 2008 and the value of these transactions rose significantly by 58% in that period.br /br /?The industrial land prices in some popular schemes demonstrated up trend of over the past 6 years. Popular schemes include area in Kota Kemuning, Glenmarie, Bukit Jelutong and Balakong in Selangor and with few factors boosting the price going up,? he tells StarBizWeek in an email reply.br /br /He says one of the factors involved is limited new supply of industrial properties like for example, in Wilayah Persekutuan where there is no new factories between 2005 to 2008.br /br /?The growing small and medium enterprise sector forms a source of demand for industrial premises and the role of the government in expanding this sector with various initiatives and financing augurs well for the industrial property sector,? he says.br /br /Industrial premises such as terrace and semi-detached factories are suitable for services operation such as those in auto servicing, distributive trade, transportation, light manufacturing or processing.br /br /?Some astute developers who spotted this trend has ventured into industrial schemes to capitalise on this ?neglected? sector compared to the residential and industrial sectors,? says Chua.br /br /On the current and new trends in the industrial sector, he says the current trend of developing semi-detached factories is continuing although there are significant changes to the building features.br /br /?Semi-detached factories are transforming from light industrial workshop design to a more corporate look. This has attracted some companies to use these newer factories as their corporate offices,? he says.br /br /Chua elaborates that the recent trend include ?super-link? factories, somewhat similar to super-link houses. These are terrace factories with large built-up areas, some are almost similar in size to semi-detached factories (6,000 sq ft and above).br /br /He adds that a fairly recent introduction in the industrial property scene is the set-up of Halal Parks in establishing Malaysia as a global Halal Hub.br /br /?This is a government initiative and to-date 17 Halal Parks have been planned with five in operations. The innovation in creating Halal Parks is in bringing the concepts and practices for the entire chain of activities encompassing industrial and food development, food manufacturing, Halal traceability, logistics and certification under one location,? says Chua.br /br /Mah Sing Group Bhd?s group managing director cum group chief executive Tan Sri Datuk Seri Leong Hoy Kum says the company focuses on appropriate product offering, optimum pricing and promotion strategy.br /br /?Mah Sing?s experience in industrial developments includes the successful 300-acre Mah Sing Integrated Industrial Park in Sungai Buluh. This project with a gross development value of RM400mil was launched in 1995 and is fully sold. Furthermore, we have a unique user?s viewpoint for industrial developments, as we have a profitable plastics business with factories in both Malaysia and Jakarta.br /br /img src="http://starproperty.my/CMSFiles/Image/News/industrialpark.jpg" /br /iMah Sing?s iParc@Bukit Jelutong has received overwhelming response.br //ibr /ibr //ibr /?We recently launched iParc@Bukit Jelutong in January whereby we saw overwhelming response, with 40 units out of a total of 42 units being sold,? he says.br /br /Due to the strong response, he says, Mah Sing has decided to develop a similar concept for iParc 2@Shah Alam to cater to the spill over demand.br /br /?We are careful to select lands that fits the requirements of industrial property buyers like for example; excellent road, rail, air and sea connectivity, readily available infrastructure facilities like water, electricity and telecommunications and also close proximity to mature residential developments which provides a catchment of skilled and unskilled labour force,? he says.br /br /He adds that Mah Sing also creates fresh demand by offering flexible designs to suit the needs of the end user, hence the layout design can be configured to specific needs.br /br /Effectively, he says, these can be customised factories at a fraction of the cost of commissioning a purpose built factory.br /br /Another developer involved in the industrial sector, LBS Bina Group Bhd says that the property sector has seen a strong comeback since the third quarter 2009 with renewed buying interest for property.br /br /?Given the improving economy sentiment, we expect strong recovery in demand for properties, both residential and commercial for year 2010. We remain optimistic over the demand for our industrial units in Puchong in view of the strong demand in this vicinity,? says Lee Eileen from sales and marketing department through an e-mail reply to StarBizWeek.br /br /Generally, LBS is positive about the business outlook for 2010 as the Malaysian economy is set to recover, albeit slowly.br /br /?This was proven after our successful launching of our 58 units of semi-detached factory at Taman Perindustrian Tasik Perdana@Puchong on January last year.br /br /?The sales were picking up from May 2009 and we managed to achieve 71% of the sales of the said project on September 2009. The balance units are available for sale and reserved for bumiputra only,? she says.br /br /br /The project in Taman Perindustrian Tasik Perdana covers 39 acres of development which consists of 58 units of 1 1/2 storey semi-detached factory and 11 industrial lots.br /br /?The semi-detached factory was sold at the range of RM1.4mil to RM2.5mil with a built up area of 4,043 sq ft. We are selling the industrial lot at RM80 per sq ft and the land size of the lot is ranging from 0.5 acres to 1.88 acres. Currently, there are four industrial lots available for sale and is reserved for Bumiputra only,? she says.br /br /The group will launch five units of 3-storey bunglow factory with built up area of 8524 sq ft at the land size of 0.316 acres onwards in April. The proposed selling price of each units is RM3.5mil onwards.br /br /i- Malaysia Property News dot net/idiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-1154320240546345397?l=www.malaysiapropertynews.net' alt='' //div

Sime unit looks to Vision Valley for growth
bBy BUSINESS TIMES/bbr /bbr //bbr /bSime Darby Property (4197) Bhd's chief is looking to the RM30 billion Sime Darby Vision Valley (SDVV) to be its future growth driver./bbr /br /The 32,000ha development is expected to enhance the value of its landbank and the company is optimistic of an earnings margin of no less than 15 per cent.br /br /It expects to secure approval for the project soon and for work to start in September, managing director Datuk Tunku Putra Badlishah told Business Times in an interview.br /br /The SDVV, scheduled to be completed by 2025, targets housing more than 4.5 million people.br /br /It will encompass anchor projects Selangor Vision City (SVC) - covering the Guthrie Corridor, Subang Jaya, Carey Island, Ampar Tenang and Sepang Estate - and Negeri Sembilan Vision City (NSVC).br /The NSVC will include Labu and Tanah Merah Estates and a new model of affordable housing community that will be developed as the first project in the country to cater for the housing needs of workers in the SDVV, Tunku Badlishah said.br /br /Some 14,800ha will emerge as the main driving clusters for the overall master plan with its sports, healthcare and wellness; education; aviation and maintenance, repair and overhaul; leisure, tourism and entertainment; and Green Experimental Cluster components.br /br /Tunku Badlishah said that key to the SDVV, a regional development, will be to attract foreignnbsp;direct investment (FDI) from the Asia-Pacific, the US, Europe and the Middle East.br /br /?Geographically, we are right smack in Asia-Pacific. So, location-wise, we have the edge. Malaysia Airports Holdings Bhd is committed to building the new low-cost carrier terminal (LCCT) in Sepang. When the new LCCT is completed, Malaysia will become a stronger transportation hub for the region.?br /br /Sime Darby Property is talking to local and foreignnbsp;conglomerates to invest in the development.nbsp;The SDVV will complement the Iskandar Malaysia development in Johor.br /br /Sime Darby Property will work with Iskandar Investment Bhd and the Iskandar Regional Development Authority for the development of both Iskandar Malaysia and the SDVV, Tunku Badlishah said.br /br /i- Malaysia Property News dot net/idiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-6714368304187343932?l=www.malaysiapropertynews.net' alt='' //div

Singapore plans hedge-fund capital
bBy BLOOMBERG/bbr /bbr //bbr /bSINGAPORE/b: Singapore is planning to create its own hedge-fund capital modelled after Greenwich, Connecticut, in a cluster of ex-British army homes called Nepal Hill, a 15-minute cab-ride from the city-state's main banking district. br /br /The Monetary Authority of Singapore and JTC Corp - the government agency developing and marketing the project in Nepal Hill - quietly asked hedge fund managers in January to visit the district's so-called black-and-white bungalows, named for their white-washed walls and dark timber frames, according to a copy of the invitation obtained by Bloomberg News. br /br /Singapore is seeking to attract firms planning to expand in the region as Asia leads the global economic recovery and the US and Europe increase regulation. br /br /The proposed cluster follows tax and regulatory incentives that have made it easier for funds to set up shop on the island than in Asian cities such as Hong Kong and Tokyo, helping the industry grow from near zero in 1997 to almost 140 firms today. br /Aisling Analytics Pte will "certainly look at it as a potential location" when its lease at Suntec City, next to the central business district, comes up for renewal, said Michael Coleman, the hedge-fund firm's managing director. br /br /Rents in Singapore, the most expensive in Asia after Tokyo and Hong Kong, fell 46 per cent, on average, in the fourth quarter, the steepest decline in the region from a year earlier, according to Boston-based commercial real estate company Colliers International. br /br /The average top-grade office monthly rental in Singapore's central business district fell to an average of S$6.29 (S$1 = RM2.40) per sq ft in the last quarter, Colliers said in a report.br /br /Nepal Hill is part of a development called "one-north", referring to Singapore's location one degree north of the equator, that is already home to industry clusters including Singapore's biomedical research hub, Biopolis. br /br /The 180-hectare area will be developed in stages within the next 20 years, JTC said in the invitation to managers.br /br /The island-state's hedge fund industry has grown to 138 single-strategy hedge-fund managers employing more than 800 professionals from near zero in 1997, according to a survey by the local chapter of the Alternative Investment Management Association. br /br /The industry oversees at least US$34.9 billion, excluding assets managed by several of the large global firms, it said, making it Asia's second biggest behind Hong Kong. br /br /Nepal Hill will "need at least one substantial anchor tenant" to draw potential investors in funds to the site, said Peter Douglas, the principal of GFIA, a Singapore-based hedge- fund consultancy firm that also runs a wealth management firm. br /br /"Nepal Hill has been chosen for its unique ambience of black and white architectural heritage amid the key research clusters, and these bungalows will be the ideal setting for offices for the alternative investments," JTC and the monetary authority said.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/631273490121829917-5512547561183534817?l=www.malaysiapropertynews.net' alt='' //div

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