Permodalan Nasional Bhd (PNB), the country's biggest fund management company, plans to develop next year its 7.2ha surrounding Merdeka Stadium and Stadium Negara in Kuala Lumpur.
Its president and group chief executive officer Tan Sri Hamad Kama Piah Che Othman said it will undertake mixed property projects that add value to the surrounding areas.
PNB had said earlier that it planned to develop the land into posh residential areas and business plazas at a gross development value of RM3 billion.
Hamad Kama Piah said that PNB was stepping up property development as earnings from its property arm provided an important source of revenue for the well-diversfied group.
"PNB will increase real estate investment to ensure it reaps commensurate returns," he told reporters after handing over Hari Raya goodies to seven organisations and orphanages from Selangor in Kuala Lumpur yesterday.
On Amanah Saham 1Malaysia (AS 1Malaysia), Hamad Kama Piah said that an estimated 2.4 billion units had been subscribed to date. More units of the fixed income fund are still available.
The fund, launched by Prime Minister Datuk Seri Najib Razak on July 31, offered 10 billion units for sale at RM1 each. It has the same features as Amanah Saham Wawasan 2020 and Amanah Saham Malaysia. - Bernama
Fears of overheating in China, Hong Kong and Singapore markets have been fanned by media reports of huge crowds at property launches snapping up residential units
"Bubble" may be the word on everyone's lips when talking about spiralling housing prices in China, Hong Kong and Singapore, but contrarians believe these fears are overblown and prices have yet to peak.
They point to savings-heavy Asia, a preference for bricks and mortar, low interest rates and a faster-than-expected recovery in Asian economies, led by China.
"We're not near any bubble territory. Such rapid upward moves have simply illustrated the resilience of Asian households and companies," said Frankie Lee, who manages around US$800 million (US$1 = RM3.53) as head of property equities for Asia at Henderson Global Investors.
Fears of overheating in these markets have been fanned by media reports of huge crowds at property launches snapping up residential units the minute they are launched and the availability of easy credit in these centres.
"Act now to prevent a housing bubble", read one headline in Singapore's Straits Times newspaper yesterday, calling for banks to tighten lending terms.
Henderson's Lee said property prices would continue to rise in the next one or two quarters, but less sharply, as the nascent economic recovery takes hold and boosts employment in these cities.
Bubble contrarians say housing prices, especially in Singapore and Hong Kong, remain affordable to their cash-rich citizens, even after the recent sharp gains.
Tan Chin Keong, real estate analyst with UBS Wealth Management in Singapore, notes a typical Hong Kong homebuyer would have to set aside about 35 per cent of monthly income to service a mortgage at current prices, down from 70 per cent a decade ago.
In Singapore, household debt is around 15 per cent of total assets, while cash holdings alone exceed the total amount of borrowings, Tan said, citing central bank figures.
Mortgage rates in Hong Kong and Singapore have also been falling in recent months and are at or near all-time lows, due to loose monetary policies and fierce competition among banks.
Hong Kong's residential prices have risen by more than a fifth this year, helped by a lack of new supply and low mortgage rates.
In Singapore, residential sales hit new record highs in June and July, helped by low interest rates and increased confidence about the local economy.
Chinese homebuyers are also flush with cash, analysts say.
Lee Wee Liat, China property analyst at Nomura, says feedback from developers indicates that around 30 per cent of homebuyers paid for their property in cash, while those who borrowed typically took loans of 50 to 60 per cent of the property value.
Still, market bears continue to warn that China's housing prices may begin to ease and could reverse early next year as supply catches up and demand wanes.
The National Development and Reform Commission, China's top economic planning agency, noted in a report to the country's State Council, or Cabinet, that "housing prices in some cities are rising overly fast", a strong indication Beijing has grown uneasy about the increases and may step in to cool the market down.
Chinese residential property prices shot up in March and the month-on-month growth has been accelerating through July.
Property consultancy DTZ cautioned clients not to be caught up in the current euphoria over Asian residential property, saying market bulls were looking at just one to two months of data and calling it a trend.
"Prices may come off a bit until we see a more sustained economic recovery, both in the region and globally," said David Green-Morgan, Asia-Pacific research director at DTZ.
Market bulls noted that the rally in home prices has helped property stocks outperform their respective markets.
In Hong Kong, the HSI-Properties Index is up 49 per cent year-to-date, outperforming the 37 per cent advance on the main index. In Singapore, property stocks have gained 57 per cent, against a 50 per cent rise in the benchmark index.
The outlook on China property stocks is mixed due to uncertainty about the sort of measures authorities are likely to implement in a bid to cool the market as well as differing views about the quality of the firms' landbank. - Reuters
Sitting on a 38-acre plot of freehold land, Sanctuary Ridge Kuala Lumpur City is a luxurious development designed for those who long for life’s simple pleasure, comfort, privacy and a sense of security.
Built-up Area & Specifications
Sanctuary Ridge is a prestigious, low-density development which comprises only 31 bungalow houses and 37 bungalow lots. With a built up of approximately 10,000 sq ft and an average land area of 19,000 sq ft, it provides and assures ample space for the whole family.
Prices for these luxurious bungalow homes and bungalow lots are tagged at an average of RM7million and RM4million, respectively.
Interested homebuyers are spoilt for choices as there are 14 unique and beautiful bungalow designs for selection. With a minimum of 5 bedrooms and 5 bathrooms per bungalow, there is definitely a unit to cater to each potential buyer. The bungalow lots are divided into 14 Privilege lots which boast the panoramic view of Petronas Twin Towers and KL skyline, while the 23 Premium lots overlook the view of southern Petaling Jaya. Imagine just gazing from their windows, homeowners can experience the splendor of nature whilst captivating the breathtaking views of sunset and sunrise. What a sight to behold!
For the bungalow lots, residents are given the privilege to envision and build their dream homes according to their desire within modern contemporary theme set by the developer.
The development boasts of several quality fixtures such as air-conditioning units, solar heater as well as rainwater harvesting system.
Facilities & Amenities
Sanctuary Ridge is a gated and guarded development with guards stationed at the guardhouse, patrolling 24 hours a day to ensure the safety of the residents. Discreet perimeter fencing and CCTV systems at strategic places are installed to enhance security.
A stroll or jog around the nature trail will convince you that Sanctuary Ridge is not only a safe and peaceful haven; it is also a home complete with lush, serene landscapes and beautiful surroundings.
The Developer
Gasing Meridian Sdn.Bhd. is a subsidiary of the Sanctuary Gasing group of company. Sanctuary Gasing is a leading Australian-Malaysian property group with an established reputation for delivering high quality projects. Sanctuary Gasing’s principals and affiliates have successfully undertaken projects in Australia, Malaysia, North America, Europe and the Peoples’ Republic of China, and in the process, have established new benchmarks for excellence in the communities in which the group operates.
Source thestar.com.my
Suasana Bangsar is the promising new development by United Malayan Land Bhd (UMLand) that is set to ingrain another success for the company in the affluent neighbourhood of Bangsar.
Location
Set in the heart of major city landscapes, Suasana Bangsar (SB) is the latest high-end residential condominium development to join a long list of exclusive and established developments in the Bangsar area. Accessible from Jalan Maarof, turning left onto Jalan Tanduk and adjacent to the existing Bangsar Heights Condominium, SB sits elevated at the junction of Jalan Kaloi and Jalan Kurau, with panoramic views of its surroundings including Mid Valley City, Bangsar, KL Sentral and Petaling Jaya. For frequent travellers or commuters, the Bangsar LRT station and KL Sentral Station are nearby, allowing convenient access to KL city centre or the KLIA.
The address of Bangsar is deemed a worthy investment not only because of its upmarket neighbourhood but also because land supply is limited within this area and new developments are few. While surrounded by lush greenery, it never loses the downtown excitement with an abundance of entertainment and shopping, i.e. Mid Valley City, Bangsar Village and Bangsar Shopping Complex within minutes away. The watering holes along Jalan Telawi and its neighbouring streets are favourite hot spots for nightlife haunts offering a large selection from restaurants to pubs, bars and cafes. The numerous amenities such as banks, supermarkets and laundry services are also within close vicinity.
Facilities & Amenities
SB offers an urban and comfortable living experience, with a comprehensive range of facilities that promises to fulfil the needs of individual residents. A spacious modern lobby area greets residents while its chic and modern designs are created to offer a welcoming ambience as they step into their home.
The beautifully landscaped recreation deck offers lavish facilities that include a glass-encased gymnasium, a cascading infinity pool, poolside deck, garden landscapes, and beautiful water features that blend into a modern and relaxing environment. Other features include a pavilion, barbeque area, children’s playground and a multi-purpose room which are great for quality time spent with families and friends. Along with an indulging spa pool and sauna room, SB aims to offer relaxation and comfort in the heart of urban living, be it for individual residents, couples or families.
Built-up Area
SB is a low-density freehold development with only 190 units set in a 26-storeys tower. Each standard floor has 8 units with 5 lifts to service the residents. The typical unit is a choice of 2, 3+1 or 4+1 bedrooms types, with sizes ranging from 1,112 sq. ft. and 2,147 sq. ft. The various selection of unit types allow for flexibility, meeting the needs of different lifestyle demands, whether it is working professionals, couples or families with children.
The 6 units of penthouses and duplexes are situated on the top floors. They are available in 4+2 and 5+2 bedrooms. Units range from 3,845 sq. ft. to 4,892 sq. ft., offer a deck and spa pool with a luxurious touch. However, the winning feature is the panoramic views of its surroundings; the epitome of sophisticated city lifestyle.
What sets SB apart from other residential condominiums is its high ceiling feature, which facilitates good ventilation and spacious comfortable living. Each unit will also be specified with European sanitary fittings. In keeping with a high standard of excellence, the development is designed to conform to the seismic force in reference to UBC 1997 (American Uniform Building Code) Zone 1, ensuring residents a safe haven.
The development is now more than 50% completed and should be ready by the end of year 2010, which is well ahead of its initial schedule.
The Developer
UMLand Bhd has proven itself as a well established developer with a wide-range of experience in building successful townships and niche projects. Its track record includes Suasana Sentral Loft and Seri Bukit Ceylon in Kuala Lumpur, whereas the township developments are Bandar Seri Putra in Bangi, Bandar Seri Alam and Taman Seri Austin in Johor. UMLand is consistently acquiring and entering in joint venture developments to boost its core business activity
Source from thestar.com.my
DEVELOPER Mines Excellence Golf Resort Bhd will build three five-star hotels within its RM3 billion Mines Golf City development in Bukit Beruntung, Selangor over the next three to four years.
Founder Tan Sri Lee Kim Yew said it is looking to set up a boutique hotel, a wellness hotel with golden standards and a hotel for golfers for more than RM300 million.
Lee said he is also keen to establish a university designed for golfers and a health clinic and spa.
"My aim is to turn Mines City into a world-class destination for golfing and for health tourism," Lee told Business Times in an interview in Kuala Lumpur recently.
"I want to set up a few golf and wellness hotels in Malaysia and it would be ideal to have two in Mines City," he said.
Lee said he is ready to talk to boutique hotel and spa operators who are keen to set up shop at the golf resort.
The 840ha Mines City is being developed by Mines Golf City (MGC) Sdn Bhd, a 70:30 joint venture between Mines Excellence and Country Heights Holdings Bhd, in which, Lee, has a 48.1 per cent stake.
MGC will develop a 63-hole golf course on 320ha, which would be Malaysia's largest, and build townhouses, 500 bungalow lots, an equestrian and driving academy, schools, sports facilities, food outlets and parks on the remaining land.
Lee said construction on Mines City will commence in early 2010 after it gets approval from the local council to develop the golf course.
MGC has completed the piling work and signed up Swedish golfing superstar Annika Sorenstam to design the first 18 holes and South Korea's Se Ri Pak, the next round of 18-holes.
Lee said MGC is in talks with other golfing superstars to design the remaining 27-holes.
"There is a big business in golf. In the US, there are over 20,000 golf courses and more than 90 per cent are successful. There will be a big Japanese and European market for Malaysia going forward because of Sorenstam and Pak," Lee said.
Meanwhile, Lee, who was CHHB group managing director but relinquished his position last year to focus on golf, said there is scepticism from the market on whether he would finish developing Mines City.
"There is scepticism on whether I would be able to do it. A few years after I started Mines Resort City in Seri Kembangan, recession hit. People started talking. But I completed it in five years," Lee said.
Mines Resort City consists of seven components including Palace of the Golden Horses, Mines Wellness Hotel (previously Palace Beach & Spa) and Mines Waterfront Business Park, built from 1993 to 1998.
"MGC is free from encumbrances. If banks want to support the Mines City development, I am more than willing to talk to them. Right now, I am self-funding the project," said Lee.
Source from btimes.com.my
The luxurious home of your dreams is now a stunning reality. Sitting on freehold land located in one of Kuala Lumpur’s most prestigious and exclusive address, Kenny Hills, Tijani 2 North is a majestic condominium development designed for the most discerning of buyers.
Location
Strategically located in a premium residential haven, it grants easy accessibility via Jalan Tunku Ismail, Jalan Duta, Jalan Mahameru, Jalan Parlimen and Jalan Kuching. Within minutes of drive away are established amenities such as The Tun Razak Hockey Stadium & Sports Complex, as well as the Bangsar and Hartamas Shopping Centres.
Built-up Area
Tijani 2 North is a low density development comprising only 70 duplex units and 84 condominium units all spread over 7.4 acres – a density of only 21 units per acre. The built-up area of the condominiums and duplexes ranges from 2,827 to 5,644 sq. ft. With four contemporary designs to choose from, there is a unit to cater to each potential buyer. Prices for the homes range from RM2.5 to RM5.4 million.
Specifications
Designed with the residents’ comfort in mind, every minute detail is not being compromised in the planning of its grand interiors; from its finely crafted fixtures to the imported marble flooring, en suite bathrooms for all bedrooms and Jacuzzi in the master bathroom. Additionally it also comes with good finishes and quality fittings such as air conditioners for the whole unit (excluding the maid’s room), kitchen cabinets with hob, hood and an electric oven.
Facilities & Amenities
With all its incredible elements surrounded by lush landscaping and water features, it is a pre-requisite for exclusive living privileges. Tijani 2 North residents can enjoy the resort-styled clubhouse which comes with comprehensive facilities including gymnasium, squash court, reading room, game room, wine and cigar room, function hall, management office, sauna and spa with Jacuzzi. Outdoor facilities include a swimming pool, wading pool, tennis court, half-sized basketball court and children playground.
The development has been designed with a 3-tier security system which offers residents enhanced security and a valuable peace of mind. Each condominium unit is allocated with 3 car park bays and a private lift lobby while the penthouse units come with their own private pavilion as well as a private swimming pool.
The Developer
Developed by Tijani (Bukit Tunku) Sdn Bhd, a subsidiary of Bolton Berhad; Tijani 2 North is an excellent embodiment of a well-located and well-designed property with top notch facilities and features. Bolton Berhad is well-known for creating quality living and commercial projects since 1964. Among the many prestigious developments are Campbell Complex (KL City Centre), Tijani (Kenny Hills), Taman Tasik Prima (Puchong), D’Mayang Condominium (KL City Centre), Langkawi Fair (Langkawi), Lavender Heights (Senawang), Bandar Aman Jaya (Sungai Petani), Parkrose Condominium (Bangsar) and Taman Seri Telok Emas (Melaka).
Source from thestar.com.my
HIGH-END property developer DNP Holdings Bhd, which could be rebranded into Wing Tai Malaysia in the near future, is poised for a quantum leap in profits.
For the year ended June 30 2009, DNP posted a net profit of RM14 million, but DBS Group Research forecast net profit could soar to RM114 million by the 2012 financial year.
For the year ending June 2010 and 2011, DBS forecast a net profit of RM51 million and RM78 million respecitively.
DNP is 54 per cent owned by Wing Tai Holding Ltd, a Singapore public-listed company which has created a niche reputation as one of the island state's top high-end residential developers.
DNP's second largest shareholder is former banker Chua Ma Yu, who owns 2.83 per cent of the company as at end-September last year.
The report said DNP has been marketing its KL high-end segment under the umbrella of Wing Tai Asia, to help ride on its parent's strong brand name.
"We do not discount the possibility of DNP being rebranded in the near future," Mei Hui Yee, an analyst with DBS wrote in a report initiating coverage on the residential developer with a price target of RM2.60 a share.
"We conservatively expect DNP's earnings to leapfrog by 3.7 times over the next three years. If all launches go ahead as planned, there could be a further 40 per cent upside to our earnings estimate," Mei wrote in the report.
DNP has about RM1.5 billion of upcoming high-end launches around Kuala Lumpur's Golden Triangle over the next few months.
Among its forthcoming launch is the Verticas Residensi at Bukit Ceylon, which has a gross development value (GDV) of RM726 million. The project comprises 423 condo units priced at a minimum of RM1.2 million a unit.
"We understand 64 per cent of the 70 units opened to registrants have been sold to date (within just one month) despite the price tag and ahead of management's expectations," Mei wrote in the report.
DNP is also expected to launch by year-end a high-end condominium project that comprises 25 units priced at RM3.5 million a unit. The condos have a built-up area of between 3,000-3,500 sq ft.
It is also expected to launch 197 units of luxury condos just opposite the Petronas Twin Towers by next year. The project is estimated to have a GDV of RM703 million.
Source from btimes.com.my
