TH PROPERTIES Sdn Bhd, the property arm of Lembaga Tabung Haji, will launch RM50 million worth of shoplots at its Bandar Enstek township in Nilai, Negeri Sembilan, next month.
Its chief executive officer Zaharuddin Saidon said this would be the first time it launches commercial units within the development.
Bandar Enstek is developed by TH-NSTC Sdn Bhd, a 70:30 joint venture between TH Properties and the Negeri Sembilan State Development Corp.
So far 30 per cent of the 2,046ha township has been developed with 1,200 units of single and double-storey terraced houses, bungalows and semi-detached houses built and occupied.
The whole development, comprising residential, industrial, commercial and institutional components will be completed by 2025 with an estimated gross development value of RM9.2 billion.
"Developments are moving on as scheduled. We feel it's time to add some shoplots to cater for the existing homes. We are positive on the take-up as there is a long wait list," Zaharuddin said.
Zaharuddin was speaking to Business Times in Kuala Lumpur yesterday, after inking an agreement with Hiraki Timur Sdn Bhd.
Hiraki is the operator of Kolej Teknologi Timur (KTT) and it plans to set-up a campus on 3.2ha in Bandar Enstek, for RM25 million to RM30 million.
The event was witnessed by Deputy Minister of Higher Education Datuk Saifuddin Abdullah.
Hiraki Timur will move its current main campus in Bandar Baru Salak Tinggi, Sepang to Bandar Enstek when the new facility is ready by early 2012.
Zaharuddin said TH-NSTC has, since 2002, received investments of over RM1 billion from the government and private sectors to set up universities and colleges.
The Education Ministry and Higher Education Ministry bought 400ha to set up nine colleges and institutions such as Tunku Kursiah College, Aminuddin Baki Institute, Maktab Perguruan Teknik and Pusat Latihan Bahasa Inggeris.
The properties are under construction and will be ready between 2012 and 2013.
Kuala Lumpur Education City Sdn Bhd, led by Tan Sri Dr Kamal Salleh, is planning Kuala Lumpur Education City, which will feature five foreign and two local universities on 200ha.
Cempaka Group of Schools is also setting up an international secondary boarding school for RM95 million.
"Our focus plan for the township is a knowledge-based development and we are heading there," Zaharuddin said.
Source from btimes.com.my
TH Properties and the developers will build super size luxury bungalows, each standing on 0.4ha, marketed under Malaysia My Second Home.
TH Properties Sdn Bhd will launch by mid-2010, two luxury housing projects worth RM1 billion at its 2,046ha freehold Bandar Enstek development in Nilai, Negri Sembilan, in a joint venture with developers from India.
Chief executive officer Zaharuddin Saidon, who declined to reveal the developers, said each developer will be given 40ha of land to develop under the joint-venture agreement
Zaharuddin told Business Times that they will build super size luxury bungalows, each standing on 0.4ha, marketed under Malaysia My Second Home.
He added that the bungalows would be sold to high networth individuals from India, the Middle East and Singapore.
It is learnt that each bungalow will sell for around RM5 million.
"We can't reveal more details as the agreement is still being finalised. We hope to sign it next month. The developers are preparing the master plan for approval," Zaharuddin said.
"In terms of development value, the Indian partnership will be our biggest investment from overseas into Bandar Enstek."
Zaharuddin said TH-NSTC Sdn Bhd, the developer for Bandar Enstek had been approached by the developers at the start of the current year and initial talks have led to the signing of a memorandum of understanding in March.
He said TH-NSTC is open to similar JVs with local and foreign developers but they should be able to add value to the township and bring in their own market catchment.
"We will consider allocating land to them to develop but we will be cautious in our approach. We rather do it ourselves while we can," Zaharuddin said.
TH-NSTC is a 70:30 venture between TH Properties, the property development arm of Lembaga Tabung Haji, and the Negeri Sembilan State Development Corporation, respectively.
The project is 30 per cent developed with 1,200 units of single and double-storey terraced hou-ses, bungalows and semi-detach-ed houses built and occupied.
The entire development will feature residential, industrial, commercial and institutional components with properties worth RM9.2 billion.
The project is scheduled to be completed in 2025.
Source from btimes.com.my
Niecon Development aim to sell the remaining units of 'The Oracle' to high networth individuals in Malaysia within the next three months
NIECON Development aims to sell about a fifth of its A$850 million (RM2.4 billion) luxury twin-tower apartment project in Australia's Gold Coast, dubbed "The Oracle", to Malaysian investors.
The 515-apartment project, located on Broadbeach, Gold Coast, is 83 per cent sold with prices averaging A$1.4 million per unit (RM4.11 million).
The bulk of the buyers are Australians and the rest from Malaysia, Singapore, China, Russia and the UK.
Chief executive officer of Jalin Realty International Pte Ltd, the exclusive marketing agent for Niecon in Malaysia, Ian T.K. Chen, said although the apartments are expensive and the market is soft, the units were sold in six months from its launch.
The Oracle is one of the most prestigious projects in Australia and interest is strong as it is close to Jupiter's casino and the Gold Coast Convention Centre.
Launched in early 2008, it features 510 units of 1-3 bedroom apartments ranging from 850 sq ft to 3,000 sq ft, worth A$690,000 to A$3 million (RM2.2 million to RM8.8 million).
The two duplexes are worth up to A$5 million (RM14.7 million) each, and three penthouses for over A$9 million (RM26.46 million) apiece.
Chen said one penthouse was recently sold for A$9.6 million (RM28.22 million), smashing the Gold Coast record for highest penthouse value transacted.
"Australians are relatively wealthy and people are buying into The Oracle because it is an iconic building with beach frontage," Chen said in an interview in Kuala Lumpur yesterday.
The Oracle is being developed on 8,000 sq m of offices and 4,500 sq m of retail space, making its appeal more attractive to buyers. The whole development, which will be completed by end-2010, is worth A$1 billion (RM2.94 billion).
Chen added that Gold Coast is the fastest growing regional city in Australia currently.
He said since The Oracle was launched, the value of the apartments have appreciated by 10 per cent and he expects the trend to continue year-on-year, as it has for other properties in the region.
"We aim to sell the remaining 77 units of the 1-3-bedroom apartments to high networth individuals in Malaysia within the next three months. We have a long list of potential buyers," Chen said.
The units will be launched tomorrow at Mandarin Oriental Hotel in Kuala Lumpur.
According to the Australian Bureau of Statistics, Malaysia ranked 10th in terms of top investors in Queensland in 2008.
"Malaysians spent A$22 million (RM64.68 million) to buy residential properties, a bulk of which are in Gold Coast. So we are confident of sales here," Chen said
Property developers should be cautious and not overbuild just because the property market appears to have bottomed out in the second quarter, said Real Estate and Housing Developers Association (Rehda) president Datuk Ng Seing Liong.
Developers were optimistic of a stronger uptake of properties in the second half of the year as the property market appeared to be recovering, he said.
“But they should remain cautious and not overbuild,” he told reporters at the 20th National Real Estate Convention themed Recalibrating the Fundamentals in the Malaysian Real Estate Market yesterday.
Ng noted that many developers were still worried about clearing their inventory and reducing property overhang.
“Their concerns include completing on-going projects in time, softening property prices and high marketing expenses,” he said.
At the end of the first quarter, the housing property market recorded 544,926 units of incoming supply against 669,554 units of planned supply, Rehda figures showed.
The number of completions and starts of residential projects increased in the first quarter, but new building plan approvals had dwindled, compared with the fourth quarter last year, according to Rehda.
“With the property market improving, developers need to be innovative, creative and focus on what the market demands. It’s good to see some developers embracing the green concept in the construction of buildings,” Ng said.
A Rehda survey in May on 105 developers from peninsular Malaysia showed that 32% respondents launched new projects in first half of the year while 68% did not.
The survey said 30% of the 105 developers experienced “static performance” in their launches, while 38% reported worsening sales with a majority stating that they had experienced a 30% or more reduction in sales.
Source from thestar.com.my
The only commercial development in Pantai Hillpark taking shape; show unit now open for viewing
Ahead of its completion in early 2010, YTL Land & Development’s CENTRIO is once again set to create a surge of interest amongst property buyers, when it opens its first-ever SOHO (small office/home office) show unit for public viewing. As the only commercial hub in the highly popular Pantai Hillpark address, CENTRIO features an eclectic mix of duplex SOHO suites, boutique offices and trendy retail stores, to serve the community’s needs in the 90-acre urban renewal development. 
Designed with a difference while staying true to Pantai Hillpark’s signature Mediterranean theme, CENTRIO pulls together modern spaces to deliver a new age of working and living. Cozy office suites that open out to garden views, spacious and stylish SOHO suites that offer open sundecks and tranquil private gardens are just some of CENTRIO’s unique offerings.
The introduction of CENTRIO came to be following YTL Land’s research that revealed an increasing number of young people were looking for living space that offered unlimited flexibility to do whatever they wanted; with many of them wanting to work from home. Its debut back in December 2006 proved to be a hit for this low-rise boutique development with 70% of the development sold in three days.
“CENTRIO’s launch in 2006, clearly demonstrates a rising trend of property buyers who are thinking differently about the way they want to live and work, appreciating the flexibility that our duplex SOHO suites and boutique offices have to offer,” said Dato’ Yeoh Seok Kian, Executive Director of YTL Land & Development Berhad.
“We are confident that the development will continue to attract new buyers and set new benchmarks for SOHO living in Malaysia, as more and more investors realize the investment potential of CENTRIO’s unique designs, features and strategic location,” he added.
In conjunction with the opening of the show unit, YTL Land also announced a new financial package that would give buyers, savings of up to RM150,000. This offer is only for limited time period only.
SOHO suites come in eight varieties, offering buyers varied options in terms of space and design at a starting price of RM550 per square foot. CENTRIO’s more recent offerings include the pool-view SOHO suites that offer residents the convenience of being situated closest to common facilities like meetings rooms, a yoga studio and gym. Spacious and stylish, the one-of-a-kind boutique garden offices are stunning duplexes that come with dual garden entrances, dual views, and large picture windows. With security and privacy a top priority in the development’s design, there will be completely separate access points for residential, office and retail spaces.
CENTRIO’s appeal and value was recognised recently when it clinched four awards at CNBC Asia Pacific Property Awards 2009, for ‘Best Mixed Development’ and ‘The Architecture Award’ under the Commercial category and ‘Best Architecture’ and ‘Best Property Marketing’ in the Residential category.
About CENTRIO at Pantai Hillpark
CENTRIO features an eclectic mixed development of exclusive habitats (SOHOs), boutique offices and trendy retail stores that pull together modern spaces for people to live, work and play in. It is also the only commercial development within Pantai Hillpark, which is developed by YTL Land & Development Berhad.
Individuality and uniqueness are the key promise of CENTRIO, with its SOHO suites (small office/home office) reflecting homeowners' demand for clean open spaces that can be interpreted with a distinctly personal touch. They come with unique features like double volume space, stunning floor-to-ceiling or windows, spacious rooftop gardens, illuminating skylights as well as open sundecks above units, all of which are unheard of in other comparably sized SOHO developments in the market.
To add to its one-of-a-kind nature, CENTRIO’s SOHO suites comes with a host of amenities like a lap pool, a fully equipped business centre and shared conference rooms, which make the work/home experience seamless and enjoyable. Furthermore, the lush modern landscaping by renowned landscape architect SekSan serves to enhance the overall development’s value, while making a distinct aesthetic statement.
CENTRIO’s location in the highly strategic Pantai area also add to its strong commercial appeal, being situated between KL’s central business district and PJ’s fast emerging commercial hub. Bearing in mind the mixed nature of the development, security was a top priority in the development’s design, ensuring that residential, office and retail spaces have completely separate access points in order to ensure the safety and total privacy of residents.
Source from ytlcommunity.com
GUOCOLAND (Malaysia) Bhd is targeting to launch an integrated high-end development in Damansara Heights, Kuala Lumpur, by the end of this year.
As the property arm of the Hong Leong Group, the project known as Damansara City will be worth about RM2 billion.
The 3.4ha project will comprise two landmark office towers, two blocks of luxury condominiums, a five-star boutique hotel that will be managed by the UK-based Thistle Group, and a 300,000 sq ft retail mall with four levels, the first in Damansara Heights.
Damansara City was due for launch in June 2008 but was held back as GuocoLand had wanted to fine-tune the design and layout for each of the components.
"We hope the building plans would be approved soon so we could launch the project by December and commence work on the basement and super structures. The foundation is ready," GuocoLand executive director Chan Chee Meng said.
Chan said that GuocoLand will launch the office towers first, and sell them en-bloc.
He added that GuocoLand has been approached by Malaysian as well as overseas buyers.
"The market for high-end condominiums at the KLCC area has been soft since last year but we reckon that office buildings in prime locations will be much sought after, especially in Damansara. Therefore, we will launch the office space first.
"We were approached by interested parties for the office blocks because of the prominence of the project. Talks are on-going but we are not committed yet," Chan said.
On whether the condominiums will go en-bloc, Chan said GuocoLand will look at selling the units individually, or in bulks.
"This is one of the last prime pieces of land left in Damansara Heights so there will be demand for luxury condominiums. We will look at the market situation before launching," Chan said.
On the hotel, Chan said it will be called Gouman.
Thistle Group owns two brands namely Gouman, which is the name for five-star hotels, and Thistle for four-star properties.
Source from btimes.com.my
DIJAYA Corp Bhd (5401) is targeting to launch Tropicana Residences, its first foreign housing project worth almost RM1 billion in Hyderabad, India, in the second half of next year.
Selangor-based Dijaya, renowned for its flagship 250ha Tropicana Golf & Country Resort in Petaling Jaya, will develop the project on a joint venture (JV) basis with India's Telangana Spinning & Weaving Mills Ltd (TSWML).
Dijaya had signed a development agreement with TSWML in late 2006.
A JV company, known as Dijaya-Malind JV (Mauritius) Ltd was formed to develop the 10.2ha of land owned by TSWML, in Balanagar in Hyderabad.
Dijaya holds majority of Dijaya-Malind.
Managing director Datuk Tong Kien Onn said the JV was slow in launching the development due to 'road blocks' along the way especially during the planning stages.
"We are still waiting for certain approvals. We have applied to increase the height of the buildings. The layout approvals are also pending. We are not pushing for it as the market in India is soft at the moment," Tong said.
Tropicana Residences will feature 17 blocks of 10-storey and 18-storey apartments, with a total of 2,500 units.
There will also be 500,000 sq ft of commercial space for shopoffices and a retail mall.
Tong said the development will take 5-6 years to complete, depending on market conditions.
"We expect the project to contribute positively to our earnings. We will look at India as a long-term market. We will monitor the progress of Tropicana Residences before expanding further," Tong told Business Times.
Dijaya has, since the 1990s, harboured intentions to develop properties abroad. It was exploring countries such as Myanmar, China and Vietnam but halted plans when the economy slowed.
Tong added that Dijaya will consider exploring Vietnam and China when the market improves.
"When we go overseas, we prefer to do middle to middle-upper developments, specifically residential with some commercial elements," Tong said.
Tong said Dijaya will raise new funds or borrow, for overseas developments.
Locally, Dijaya's projects are centred in Petaling Jaya. Besides the Tropicana Resort development, its projects are Damansara Indah Resort Homes, Damansara e-Business Park and Tropicana City.
Source from btimes.com.my
