Eastern & Oriental Bhd (E&O) aims to bolster its working capital position by raising RM500mil to prepare for high-end property launches worth RM4bil, said executive director Eric Chan.
The projects would be launched in the coming months amid the recovery in the economy after a dry spell in terms of new launches in the second half of 2008 and part of 2009, he said.
“We have RM4bil worth of sales to be launched but to do this, we need working capital, especially when it is a condominium. Even if we sell 10%, we still have to construct the rest,” Chan said after the company AGM and EGM yesterday.
The property developer will raise its working capital internally by disposing of stocks and non-strategic landbanks to raise RM300mil.
The remaining RM200mil will be raised via a 1-for-2 rights issue which is expected to be completed by November, according to Chan.
The group plans next month to launch its Seri Tanjung Pinang condominium on Penang island, which has a gross development value (GDV) of RM2bil.
In the Klang Valley, it will this weekend open for sale Phase 2 of its St Mary Residences, or Tower A, which has a GDV of RM750mil.
It has also marked up considerably the price of this phase by 25% to RM1,250 per sq ft.
Chan justified this by saying the new phase would be completely fitted out, unlike the previous phase which only had kitchen fittings.
“Phase 2 will come with lighting, right down to wardrobe and curtain railings. To make it easier for buyers, they do not need to pay for loan documentation, unlike the first phase,” he said.
E&O is also preparing to launch its Jalan Conlay condominium, another project at Jalan Yap Kwan Seng as well as an office tower development which forms part of the St Mary project.
The company aims to sell at least 20% of St Mary Residences Phase 2 to foreigners and is currently on a sales campaign in Singapore, Hong Kong and Guangdong, China.
Chan said the company, like any other property development company, needed two years to realise profit. “A profit in 2008 is due to sales in 2006,” he said, adding that the group would, therefore, have to keep the momentum going.
E&O suffered a net loss of RM31.7mil for its 2009 financial year compared with a net profit of RM128.5mil in the previous year.
Chan said the company had a current gearing of 0.79 which would be reduced to 0.46 with the rights issue. This could be further reduced to 0.16 with RM300mil to be raised via the disposal of stocks and non-strategic landbanks, he added. The property developer has total borrowings of nearly RM900mil.
Property developer SP Setia Bhd has year-to-date posted RM1.25bil property sales, which has surpassed its financial year ending Oct 31 (FY09) target of RM1.1bil.
Analysts said the impressive property sales achieved was due to its attractive 5/95 financing campaign, which began on Jan 31.
An analyst with ECMLibra said after hitting its annual sales target, SP Setia terminated the campaign in July.
“As at Jan 31, sales were at RM102mil. The campaign boosted sales to RM1.25bil at end-July,” he said in a report yesterday.
However, the brokerage expects sales momentum to remain firm until end-FY09 due to conversion of sales bookings.
The analyst said SP Setia’s nine-month ended July 31 results came in within house but was below market expectations, as annualised net profit came in just 1.6% below its estimates, and 11.7% below consensus estimates.
“We upgrade our target price to RM3.36 (from RM2.65) based on price-earnings ratio (P/E) valuation of 19 times after taking into account elevated optimism on the property sector as well as strong sales momentum,” he said.
SP Setia is currently trading at a forward P/E of 26 times, which has exceeded peak valuation seen during past property cycles.
“This is not justified even after taking into account commendable sales achieved,” the analyst noted.
Moreover, he said, the stock was trading at a steep 37% premium to its realisable net asset value estimate of RM3.35.
The brokerage has maintained a “sell” call on SP Setia.
An analyst with OSK Investment Research also has a “sell” call on SP Setia as the stock was trading at a significant premium even to calendar year 2010 fair value.
“Its valuation is lofty in view of the current phase of the property cycle,” he said in a report, adding that the brokerage was less optimistic that SP Setia could repeat its feat (of higher property sales) for the rest of the year.
He said a correction in property stock prices appeared inevitable in the short term as investors, who had bought the story of a robust V-shaped recovery for the property cycle in 2010, were likely to be disappointed soon.
However, the brokerage has upgraded SP Setia’s target price to RM3.47 from RM2.10, based on calendar year 2010 valuations.
1 Petaling Residences & Commerz @ Sg.Besi is a newly launched mixed development situated close to well established residential areas such as Sri Petaling, Bandar Tasik Selatan and Pekan Sg Besi. A potentially rewarding investment for first time home buyers, this development spread over 1.66-acres of land is an exciting blend of stylish condominium living and conducive business environment all in one location.
Location
Access to the Kuala Lumpur city centre is within convenient reach via an efficient road and train transportation network plus major highways such as the MRR2/Kesas Highway, Besraya Highway, KL Putrajaya Expressway, New Pantai Expressway and KL-Seremban Highway.
Shopping centres such as Endah Parade, South City and The Mines Shopping Mall will keep you occupied during the weekends and the recognised neighbouring Bukit Jalil National Sports Complex, are just a short drive away.
Built-up Area
Housed in a 20-storey block comprising 250 units of condominiums on the 5th to the 20th floor, these units come in 3 bedrooms, 2 bathrooms and 3+1 bedrooms, 3 bathrooms layout ranging from 884 sq ft to 1,171 sq ft. For those who love gardening, there are courtyard garden units which come with an extra land of 315 sq ft to 411 sq ft.
Only 33 units of shop lots occupy the ground and 1st floor with built up areas from 775 sq ft to 3,647 sq ft. Prices for these shop lots range from RM435,888 to RM1,450,888 while the condominiums are priced from RM180,935 to RM420,888.
Facilities and Amenities
Adorned by lush landscaping, 1 Petaling Residences offers comprehensive facilities such as a swimming pool, wading pool, gymnasium overlooking a pool, reflexology path, and a children’s playground.
The development has been designed with a multi-tier security with video feed security system and CCTV, card access to the lift lobby and car park and also centralised SMATV which offer residents enhanced security and a valuable peace of mind.
Adding to the list is a 3-storey elevated car park, a BBQ area, a reading room equipped with WIFI access, a multipurpose hall, a laundrette and even a kindergarten.
Launch
Launched in April 2009, buyers of 1 Petaling Residences & Commerz may enjoy zero entry cost, zero per cent interest during construction, 21 days interest free EPF withdrawal, low down-payment, interest free easy payment, zero cost package and up to 95% loan margin including MRTA. This attractive promotional package is for a limited time only. Bumiputera buyers will enjoy a 5% discount. This development is estimated to complete around mid-2011.
The Developer
Securiservices Sdn Bhd, a wholly owned subsidiary of Berjaya Land Bhd is known for its previous development such as 4 blocks of Petaling Indah Condominium and a newly completed 3 storey shop office. Berjaya Land is a well established name that has long been associated with building homes in various parts of Klang Valley. More than a real estate developer, Berjaya envisions and creates lifestyles through developments that range from terrace link houses to high rise condominiums, premium bungalow lots and commercial shop offices.
VERVE® Suites is a daring new approach to contemporary living featuring innovative living concepts. Life here is about thriving beyond the space of your own home. The four towers which make up VERVE® Suites combine fully-furnished designer suites, sky lounges and an adjoining retail centre, VERVE® Shops; all within the same vicinity.
Location
Situated in the most desirable and sought-after neighbourhood of Mont’ Kiara in Kuala Lumpur, VERVE® Suites is a project of luxury services apartments housed in four blocks on a 5.87-acre freehold land. The four blocks are Viva Tower (Block A), Vibe Tower (Block B), Vogue Tower (Block C) and Vox Tower (Block D).
Travelling in and around Mont’ Kiara is effortless with its close proximity to the city. This development boasts excellent accessibility via major highways and expressways such as SPRINT Expressway, North Klang Valley Expressway (NKVE), Lebuhraya Damansara-Puchong(LDP) and the Federal Highway.
Hartamas Shopping Centre and Bangsar Shopping Centre are located just a short distance away. For even more options, via a new highway link just minutes away, residents are able to shop at Tesco Hypermarket, IKEA, The Curve, 1-Utama Shopping Centre and also Midvalley Megamall.
Built-up Area
A unique aspect of this development is the penthouses which have been converted into common areas. In Viva, the 35th floor is the Sky Lounge, which boasts a gym, 12-seater theatrette and games area with foosball and pool tables. The 36th floor is the Sky Terrace where the views will take your breath away. The height also prevents pesky mosquitoes during barbecue dinners. With the sky lounges located at the peak of the towers, residents can enjoy the magnificent penthouse view.
Previewed in July 2008, Vogue Tower of VERVE® Suites has a total of 255 fully furnished suites with built-up areas ranging from 432 sq ft (1-bedroom suite) to 932 sq ft (2-bedroom suite). There are four interior design themes to choose from; Centro Jazz and Cosmo Groove (both 432 sq ft) and Verdant Luxe and Metro Bliss (both 932 sq ft). There’s definitely one that can fulfill the lifestyle preferences of the buyers.
Besides innovative interior design and furnishings, Vogue Tower’s four fully-furnished suites come with imported German Bosch kitchen appliances, air conditioning, lighting, built in wardrobes, bedding frames and cabinets.
Launch
The first and only sky lounge in Mont’ Kiara, the Vertigo Sky Lounge & Sky Terrace of Viva Tower is now complete and open for preview.
With both Viva Tower and Vibe Tower fully sold without any advertisements, VERVE® Suites recently rolled out a brand new notion in the Vogue Tower called The Concentrico Living Concept. However, all the 1 bedroom units have been sold. Only available are the 2 bedroom units; Verdant Luxe and Metro Bliss with prices ranging from RM800 000 to RM950 000.
There’s a 5% discount for Bumiputra buyers.
Facilities & Amenities
The development will also be supported by a full complement of facilities offering 24-hour security, gymnasium, swimming pools, tennis, squash and badminton courts and recreation landscaped decks that come equipped with barbeque facilities.
Services such as concierge and housekeeping are able to keep your life in balance by taking care of all those little things you are unable to get to doing, so you can focus on other tasks.
Another unique feature is the adjoining retail community VERVE® Shops which offers the resident of VERVE® Suites a wide selection of retail shops and services. Its star attraction is the Mont’ Kiara Performing Arts Centre (MKPAC) that nestles on the rooftop of VERVE® Shops.
In addition to the recreational facilities at the podium deck, each tower comes with its own unique sky lounge. Viva Tower and Vibe Tower introduced The Vertigo Living Concept and The Hypercubes Living Concept respectively, offering a different living concept where residents are truly spoilt for choice when it comes to leisure and recreation.
Vogue tower also has The Gardens of Concentrico, named after the concentric circles of trees, offering open-air facilities with plenty of foliage.
The Developer
VERVE® Suites is developed by Bayland Sdn Bhd, a member of the Bukit Kiara Group of Companies and managed by Bukit Kiara Properties Sdn Bhd. Since its inception in 2000, Bukit Kiara Properties (BKP) has emerged as one of Malaysia’s specialised boutique developers. It is helmed by the experienced and renowned Dato’ Alan Tong Kok Mau and his son, N.K. Tong. The impressive collaboration between Dato’ Alan Tong and N.K. Tong proves to be one of the most formidable team in Malaysia when they turned acres of rubber estate land near the fringe of Sri Hartamas in Kuala Lumpur into an upmarket and exclusive neighbourhood way back 16 years ago, now known as Mont’ Kiara.
Known for their acumen and expertise in property development plus the wealth of experience under their wings, the duo embarked on a quest to become a niche player in building innovative and high quality homes for Malaysia’s elite customers.
Guided by its four core values of Quality, Innovation, Caring and Integrity, BKP has since been transformed from a small family-driven company into one of the few specialised boutique developers in Malaysia with a staff force of close to 90. In its continuous efforts to further improve on service quality, BKP embarked on a journey to be ISO certified in 2006. In December 2007, BKP successfully received its ISO 9001 certifications together with its sister company, Bukit Kiara Interiors (BKI). A year earlier, Bukit Kiara Builders (BKB) became the first in the group to obtain the ISO 9001 certification.
BKP also became the first and only property development company to win the prestigious Malaysian Business Ethics Award twice in a row (2006 and 2008).
The Gold Coast apartment market is looking up with soaring sales of new stock at the highest level in a year and more than double where they were six months ago - according to the latest Colliers International Gold Coast Apartment report.
There are 178 new apartments sold across the Gold Coast and northern NSW during the quarter, up from 117 in the March quarter, with September 2008 and its last quarters reporting 121 and 77 transactions respectively, says the report.
“This is the third quarter in a row where there has been improvement in sales volume and, as such, I think we can now clearly say the market has bottomed out and is on the improve,” says Brinton Keath, the project marketing director of Colliers International Gold Coast.
“Besides that, the gross sales value have increased, while supply levels have decreased - both of these are positive signs for the market,” says Keath.
In addition, he says that a number of quality projects providing larger owner-occupier style units have noticed good upswing in sales, which has also helped drive up the quarterly sales figure.
"What we are seeing at present across all our salesroom floors is lifting activity with investors and owner-occupiers becoming increasingly confident to re-enter the market,” he adds.
On the other hand, Keath also cites that, despite the noticeable increase in sales activity, he is not expecting any strong price growth over the coming 12 months. “This is the amount of time we believe it will take for the current supply levels to be soaked up,” he adds.
About three months ago, Colliers International says that the city's supply level of new apartments has tumbled, from 7.3 years in December 2008 to 4.6 years just three months later, while the rate of new apartment sales on the Gold Coast and northern NSW jumps 52% in the past three months to June this year.
Keath was also quoted in June, commenting that the increase in inquiry from Brisbane and interstate based investors looking for Gold Coast apartments, which converted into sales, has had the most impact to sales for that quarter, while he then added, “Although activity has picked up of late, the new apartment market is not yet out of the woods…..We are just at the beginning of the market turning.”
Coming back to this quarter, he says, in contrast to past quarters, it is now investors who are driving the market, not first home buyers who have been extremely active since the boosted First Home Owner Grant was announced by the Federal Government late last year.
However, Keath notes one of the best news over the past months is probably the resurgence of locals back into the marketplace, particularly for new apartments priced up to $900,000. He further added that properties priced below $600,000 are again proving the most popular.
"Completed stock is attracting the most interest, accounting for 53% of sales, as investors feel confident in securing apartments at today's prices and interest rates. With talks of interest rates are about to climb and the market is at the bottom, there is a clear sentiment in the market that now is the time to get in,” Keath notes.
Meanwhile, Colliers International Gold Coast’s research manager Lynda Campbell, who compiled the report, says four projects were sold out during the last quarter - Sunland's Avalon and Circle on Cavill, with both the South and North towers achieving sell-out, and Gallery Vie in Varsity Lakes.
At the same time, Campbell says that six new projects had also been included for the survey, representing the largest number of new developments to be included since the June 2008 quarter.
"Despite the new projects coming on-line, the supply level on the Gold Coast and Tweed is now sitting at 3.4 years, the lowest we have seen since June 2008.With several projects shelved and the majority in our survey either completed or under construction, this supply level is poised to continue to fall as sales rates increase, and we foresee the city could face an undersupply of new apartments in the future,” says Campbell.
That being said, Campbell also reveals that high rise sector has accounted for the lion's share of sales during the quarter, with 129 unconditional sales for a gross value of $95.6 million.
Medium rise apartments, defined as four to eight storeys in height, accounted for 27 sales, while there were 22 sales in the low rise sector, which encompasses buildings up to three storeys in height.
“The best performing project was Meriton's Brighton on Broadwater, with 42 sales, contributing to Labrador and Southport's position as the most active precinct during the quarter. In total, 89 sales were recorded across the nine apartment projects in Labrador and Southport, making the area the most active of all seven precincts including in the study. Whereas, the precinct taking in Surfers Paradise, Chevron Island and Main Beach was the next best performing, with 32 sales during the quarter”, says Campbell.
Earlier, the Colliers International Property Watch report dated February 2009, in assessing suburbs on the Gold Coast and northern NSW that have the potential to perform positively over the coming year- concludes that Gold Coast is a unique part of Australia with a great variety of living options ranging from absolute beachfront, river, canal, golf course and lakefront to hinterland acreage properties.
“These varied choices continue to make the Gold Coast a popular place to live. Many factors have combined to create a strong population growth, and there are no indications that this will not continue.
“With population growth comes demand for residential accommodation and non-residential development, this continued demand should hold the Gold Coast in good stead going forward”, says the above Property Watch report.
Emaar Properties PJSC (Emaar), a Dubai-based global real estate developer has unveiled a special Ramadan package for its homes, with flexible purchase options and benefits offered within the prestigious developments in the 500-acre Downtown Burj Dubai community, says the developer in a recent statement.
Listed on the Dubai financial market, the developer of world’s tallest building Burj Dubai, reveals benefits in purchasing the competitively priced properties include up to one-year waivers on maintenance fees for its completed residential units with sales initiative mainly caters for residences in The Old Town, The Old Town Island, Burj Views, South Ridge, and The Residence.
Ahmad Al Matrooshi managing director of UAE at Emaar Properties, says, "Emaar's new initiatives for the holy month of Ramadan and through September are specially tailored to offer several advantages for customers. These offers are part of our concerted efforts to support our customers and assure flexible and attractive options when making a purchase decision.”
“In addition to being part of a fully-established and one of the most popular destinations in Dubai, the homes in Downtown Burj Dubai that are now offered are ready to move in and are set apart by world-class build quality and modern amenities,” he adds.
Taman Tasik Prima, a premier lakefront township in Puchong offers a resort living environment overlooking a 200-acre lake. It is a whole different lifestyle concept that integrates with the beauty of nature - imagine resort living everyday!
Location
Prominently situated in the established township of Puchong and within the Multimedia Super Corridor (MSC), Taman Tasik Prima grants easy accessibility via major highways such as the Lebuhraya Damansara-Puchong (LDP) and Shah Alam Expressway (KESAS Highway). This excellent location and accessibility makes Taman Tasik Prima a prime and worthy investment.
Built-up Area
Taman Tasik Prima is a low density development offering only 13 units of Lake Bungalow and 9 units of Courtyard Villa.
The Lake Bungalow comes with a modern open plan gallery design concept where the entrance unfolds to an exciting three storey gallery space. Designed with the residents’ comfort in mind, the spacious built up of 4,500 sq ft consists of 6 bedrooms, 6 bathrooms, 2 study rooms, and a family room. There’s definitely ample space for a growing family. The living areas and master bedroom overlook private landscape areas and formal lawns where one can enjoy a magnificent view of the lake. These fine homes are tagged at an attractive price of RM1, 297,200 to RM1, 783,700.
As for the Courtyard Villa, they are designed to blend nature into the living space by allowing an abundance of natural light illuminate the home interior. With a built-up of 3,050 sq ft, all units come with 5 bedrooms, 4 bathrooms and a family room. The living and dining areas open out to a private courtyard. For those who enjoy entertaining guests, a private party can be held at the spacious compound area. Prices for these villas range from RM646,100 to RM883,200
Both the Lake Bungalow and Courtyard Villa are equipped with 3-phase electricity supply and an expansive car porch big enough to accommodate 4 cars! Thoughtfully planned 50 feet wide driveway with paved pedestrian walkways, streetscapes and landscapes add to the appeal of this idyllic lakeside neighbourhood.
Launch
Recently launched on the 15th of August, the developers are offering exclusive discounts for early birds. For the first 5 units of the lake bungalows and courtyard villas, a rebate of RM20,000 and RM10,000 are given respectively. Bumiputras can enjoy a 7% discount.
Facilities and Amenities
It is a complete neighbourhood that offers unique features such as a landscaped central park to every precinct to create a quality lifestyle; aesthetically appealing underground cabling and covered drainage, and most importantly provides a safe gated and guarded sanctuary for peace of mind.
With an unbeatable location close to a public transportation hub, a clinic, schools, kindergartens, police station and banks, Taman Tasik Prima offers convenience to its residents with these readily existing amenities. Shopping is a breeze with shopping centres including the IOI Mall, TESCO and GIANT hypermarkets.
Upcoming amenities include water sport facilities, a lakeside commercial village, central parks with children’s playground and a gazebo area.
The Developer
Taman Tasik Prima is developed by Prima Nova Harta Development Sdn Bhd, a joint venture with Bolton Berhad, an established name with more than 40 years in property development. Prima Nova Group is an up-and-coming property developer that is fast establishing a name for itself in the property sector.
Bangsar South, a huge 60-acre mix development project is targeted at the medium to high-end city living market. This exclusive and thriving development comprises The Village with a property gallery and F&B outlets, The Horizon with boutique offices, The Vertical with blocks of commercial offices, The Sphere which is a shopping mall and the high-end residential condominium – The Park Residences. Bangsar South is the perfect choice for those who long for a comfortable residential area that comes complete with an exciting lifestyle and conducive work environment all within the same vicinity.
Location
This massive township is ideally located within a ten-minute travelling time radius to Bangsar, Mid-Valley City, KL City Centre and Petaling Jaya. It is easily accessible via Federal Highway and the New Pantai Highway (NPE).
Conveniences are a short drive away as Bangsar South is within close proximity to shopping centres, such as Bangsar Shopping Centre, Midvalley Megamall, Bangsar Village and Amcorp Mall, as well as, institutions of education like The University of Malaya.
Built-up Area
Eight blocks of condominiums make their presence felt against the backdrop of a bustling cityscape. These 470 units of fashionable condominiums are designed with a built-up area ranging from 1260 sq ft to 5840 sq ft. Aligned on a hillslope so each condo enjoys a view of the city; this prestigious development comes with a choice of 2 to 4+1 bedrooms with en-suite bathrooms and modern facilities. Prices are attractively tagged from RM 563,800 to RM1, 215,800.
Established businesses will find themselves perfectly at home at The Horizon. Not just a fashionable boutique office, this 10-storey commercial centre with 24 blocks of boutique offices gives established business owners a conducive work environment fully equipped with exclusive modern facilities – perfect for today’s competitive business environment.
The only neighborhood mall within the area, The Sphere, attends to the discerning tastes and new wants of the modern family. This three-storey retail mall comes complete with convenient amenities such as banks, supermarket, F&B outlets as well as retail outlets. There are plenty of restaurants and stylish dining for business lunches, quick meetings and after-office gatherings.
The Village, known as Bangsar South’s entry statement comprises UOA’s property gallery for future phases, show unit, function hall, F&B outlets and also specialty stores.
Facilities & Amenities
The development boasts a modernistic clubhouse with attractions to occupy the whole family and also a well-planned security concept that includes 24-hour perimeter security within the development and CCTV surveillance to ensure peace of mind.
Ample car parks, both at the surface and basement are available. For those who prefer to use public transportations, the University LRT station is within walking distance.
The Developer
UOA (United Overseas Australia Ltd) was founded in Australia, in 1987, and listed on the Second Board of the Australian Stock Exchange (ASX) in 1988, and Main Board of ASX in 1992. In 1989, UOA saw the potential of property development in Malaysia and began its focus on property development, property investment, construction and property management in the country's capital, Kuala Lumpur. UOA has since then based its headquarters and business operation in Kuala Lumpur.
Through the years, UOA has grown from strength to strength, successfully developing many prime residential and commercial properties, rising above any adverse economic conditions and emerging as a recognized and trusted property group in Malaysia. To date, UOA has developed a GDV of RM2.5billion.
In 2005, the Group listed its key investment properties in a Real Estate Investment Trust (REIT) on the Main Board of Bursa Malaysia, the Malaysia Stock Exchange. In 2007, the Group marked another milestone with the successful secondary listing of UOA on the Main Board of Singapore Stock Exchange (SGX).
A unique blend of ultra modern architecture with a tropical resort styled ambience, 11 Mont’ Kiara combines luxurious amenities with innovative technology and security, producing an exclusive 6-star high-end residential development that is magnificent in both scale and grandeur.
Location
Situated in the heart of the exclusive Mont Kiara area, designated as part of the Sunrise Mont’ Kiara Integrated Global Village, this prime development is at the centre of trendy hot spots and amenities. The bustling areas of Sri Hartamas, Bukit Kiara, Kenny Hills and Damansara Heights are all within a few kilometres away along with commercial developments such as Solaris Mont’ Kiara and Plaza Mont’ Kiara; providing residents with an extraordinary range of restaurants, supermarkets, shops and other conveniences.
The nearby Mont’ Kiara International School and Garden International School add to the global appeal, and only a short distance away marking the exclusivity of the area, are the Bukit Kiara Equestrian Club and the Kuala Lumpur Golf & Country Club.
Well connected to major highways and expressways such as the NKVE, DUKE and Sprint Expressway, 11 Mont’ Kiara is ideal in location for urban city folks, with direct links to prominent areas such as Kuala Lumpur, Bangsar, Petaling Jaya, Klang and Damansara as well as the Kuala Lumpur International Airport.
Amenities
Impressive development carries a modern tropical architectural theme, with lush landscaping that includes a reflexology path, woodland garden & jungle walk, water ponds and unique water features. Residents will be spoilt for choice with generous recreational facilities that include a fully air-conditioned gymnasium, sauna, lavish swimming pool, badminton court, squash court, tennis court and a half basketball court. Alternatively, there is also a putting green, tai chi zone, dance studio and yoga terrace. Families and children can spend quality time at the children’s playroom, wading pool, playground, tree house, barbeque terrace and the poolside barbeque area.
What sets 11 Mont’ Kiara apart is its attention to luxury and pleasure, with unique facilities such as a heated whirlpool, water-jet splash pool and three sky lounges & terrace with breathtaking views of the city skyline designed purely for the enjoyment of its residents. Rest assured you will not only be getting just a home but an urban lifestyle experience unlike no other.
Design and Built-up
The residential buildings, marked with boldly defined geometric lines, multi-layered levels and curvilinear layouts, are an architectural statement. The liberal use of stone, steel, glass, wood and plants are harmonious complements to the ultra modern designs. Living rooms make up the outer limits of the condominium, with glass windows displaying panoramic views of the city. The sleeping quarters face inwards, overlooking the atrium with its beautiful landscaped greenery and sculpted pools.
Equipped with a private lobby, 11 Mont’ Kiara has a low-density rate of two units per floor at 64 units per acre. Altogether, there are 339 units housed in five condominium towers with 43 levels each.
With four private lifts per unit, this FREEHOLD development comes with eight unique designs to suit your needs. Dimensions differ from normal units, super-deluxe units, junior penthouses and penthouses, ranging between 2,707 sq. ft and 6,725 sq. ft, respectively.
Launch
Due for completion in year 2011, this highly anticipated development is now launched for sale. In conjunction with it, the developers are offering a promotion of paying only a fixed deposit and nothing else until 2013*. There is also a 5% discount for Bumiputra purchasers.
* Terms & Conditions Apply
The Developer
Incorporated in 1968, Sunrise Berhad has proven itself as an established property developer in Malaysia, especially around the Klang Valley area. Growing rapidly as an expert specialising in quality condominium developments, Sunrise Berhad has since developed many successful developments, most notably the Sunrise Mont’ Kiara Integrated Global Village; a visionary residential suburb that incorporates high-end condominiums with quality amenities and facilities catering to a mix of Malaysians and international community.
Ranked among the Top Ten in The Edge Malaysia’s Top Ten Property Developers Award for five consecutive years, Sunrise Berhad is also listed as one of Forbes Asia’s “Best Under US$1billion” turnover public listed companies in 2005. With this 11 Mont’ Kiara development, Sunrise Berhad is well set to chart a new level of success, paving its way to greater heights and leading the way with innovative and exclusive developments.
Source from thestar.com.my
HONG Kong's Far East Consortium International Ltd (FEC) plans to invest RM150 million to build serviced apartments in Subang, Selangor.
The apartment block is expected to be ready in 2014.
It is the second phase of development for Sheraton Subang Hotel and Towers, which will be rebranded as the Grand Dorsett Subang Hotel on October 1.
The five-star property sits on 6.4ha, out of which only 2.8ha have been developed.
Dorsett International Sdn Bhd president Eddie Tang said the investment is in excess of the initial RM500 million allocation provided by FEC to build or buy hotels in Malaysia.
Tang said the company had yet to firm up details such as size of the apartment units and whether the units will be sold or leased out by Dorsett.
The first phase of renovation and refurbishment, which started recently, involves a sum of RM60 million and is due to be completed in March next year.
"Phase 1 involves the rooms, lounge and reception areas, while Phase 2 will include a new lobby for the hotel and additional meeting rooms," Tang said.
The hotel currently has 350 rooms. After renovation, it will have an additional 125 rooms, which were not completed under the original owners.
The second phase will involve bringing down a hotel block to accommodate the new apartments. This will again reduce the number of rooms to 350.
Once the second phase is complete, the entire facade of the hotel is expected to be fresh and different. The hotel was previously owned by the Faber group.
FEC bought the hotel for some RM120 million.
In an interview with Business Times in July, Tang had said that Dorsett would spend an estimated RM100 million for a 200-room business boutique hotel in Sri Hartamas and RM60 million to RM70 million for a three-star 300-room hotel in Cheras.
In Kota Kinabalu, it has identified a location for a five-star 250-room resort hotel that will cost between RM70 million and RM80 million.
The group is also eyeing Penang and Kuantan. It hopes to grow its hotel portfolio to 15 by 2014.
Apart from the hotel in Subang, it also owns and operates the Dorsett Regency Kuala Lumpur, Grand Dorsett Labuan, Maytower Hotel and Serviced Residences, and the Dorsett Johor.
8trium @ Sri Damansara, poised to be a thriving hub of business in the near future features a mix of modern office suites with in-house facilities and retail podium.
Location
Prominently located in the centre of Bandar Sri Damansara, 8trium grants easy accessibility via major highways such as the Lebuhraya Damansara-Puchong (LDP), New Klang Valley Expressway (NKVE), MRR2 and the newly completed Kepong-Sungai Buloh highway. It is estimated that more than 200,000 passing vehicles benefit from the Kepong-Sg Buloh highway and MRR2 daily. This excellent main road exposure with high visibility traffic is great positive aspect for businesses. In terms of location alone 8trium proves to be an ideal investment choice for business owners.
Built-up Area
Spanning over 2.65-acres, this freehold business centre comprises 2 blocks of 21-storey Premium Business Suites which includes 260 units of premium office suites and retail outlets.
The icing on the cake is how affordable 8trium is! With prices of the office suites starting from RM190,000 and their built-up areas from 500sq ft to 7130sq ft, this is definitely a good acquisition.
Launch
Launched on the 21st of June this year, the office suites is 70% sold out. The developer offers a 5% discount for Bumiputras and a 3% promotional rebate for limited units. Completion date for 8trium is to be at 1st quarter of 2012.
Facilities & Amenities
The 24 hour security with card access and CCTV surveillance ensure owners peace of mind. Not only will the office have security but the safety of the owner, their staff and clients are also assured. Furthermore, 8trium boasts excellent in-house facilities such as wireless internet broadband connectivity, a swimming pool, business centre, café, gymnasium, function room, etc. There are approximately 900 ample parking bays for both tenants and clients.
8trium offers the presence of vital amenities in the likes of prominent banks such as Maybank, RHB Bank and CIMB and public facilities such as petrol stations, a post office and restaurants. Transportation services such as Keretapi Tanah Melayu (KTM) and hypermarkets like Giant, Jusco and Carrefour are all within this township.
The Developer
Its developer, Sri Damansara Sdn Bhd is a wholly owned subsidiary of Land & General Berhad (L&G). The company has been listed on the Main Board of Bursa Malaysia since 1968. Originally a saw-miller and timber trader, Land & General has expanded into property development since the mid 1980s. The company is now a holding company with subsidiaries engaged primarily in the property sector with investments in the plantation, education and leisure & hospitality sectors. In 2007, Malaysia Land Sdn Bhd (Mayland) became a new key stakeholder in Land & General.
Land & General introduced their 1,200-acre freehold Bandar Sri Damansara Township in Selangor two decades ago. Property owners at Bandar Sri Damansara have seen their acquisitions appreciate by as much as 200%. Past projects include Villa Putera, Villa Puteri, Taman Sg Besi, Plaza Putra, Lembah Beringin, Bandar Sg Buaya and joint development projects at Hidden Valley and Flinders Wharf in Melbourne, Australia.
GOLDEN Horses Development Bhd, a private company owned by Tan Sri Lee Kim Yew, is constructing Palace Residential Suite at the Mines Resort City in Seri Kembangan, Selangor, for RM600 million.
The Palace Residential will offer 430 exquisite suites, adjacent to Palace of the Golden Horses, a five-star hotel with 480 rooms.
Lee told Business Times in an interview recently that Palace Residential will have a seven-star rating and its facilities and services will be on par with international standards.
He said Golden Horses will retain some of the suites for recurring income. It plans to rent each suite for more than RM800 a night.
"We will sell more than half of the suites to locals and foreigners. We have not open them for sale yet. We are looking at an average price range of RM1.5 million for each suite. We expect some buyers to lease back their units to us," said Lee.
Palace Residential will also cater to MICE (meetings, incentives, convention and exhibition) as it will have a 3,000 seating capacity ballroom, which will be one of largest in Malaysia.
The biggest currently is Mines Exhibition and Convention Centre, which has space for 6,000 people.
"We have started construction on the building. It will take two-and-a-half years to complete. We are on target and confident to sell," Lee said.
"People believe in our projects. They know the price of our properties will appreciate as they are mostly located near a golf course," he said.
The Mines Resort City, the country's first resort development, is a project initiated by Country Heights Holdings Bhd (CHHB), in which, Lee holds 48.1 per cent stake.
The Mines Resort City comprises the Mines Resort & Golf Club, Palace of the Golden Horses, Mines Shopping Fair (now owned by CapitaLand), Mines Wellness Hotel, the only beach hotel in Kuala Lumpur, Mines Waterfront Business Park, Mines Exhibition & Convention Centre and Mines Wonderland.
Park 51 Residency is a contemporary lifestyle development offering top-notch convenience, superb location and good connectivity – all packaged with an attractive price tag.
Location
Situated near the Central Business District, Park 51’s location in the SS 9 area, makes it conveniently accessible to all major highways via the Federal Highway. This includes the LDP, SPRINT, NPE and NKVE highways which ensures excellent connectivity to all major areas in Kuala Lumpur, Subang Jaya and Shah Alam.
The strategic location ensures that Park 51 is within a short distance of a comprehensive range of amenities, including colleges, hospitals and major shopping malls such as Stamford College, Assunta Hospital , Midvalley Megamall and Sunway Pyramid, to name a few. Other useful amenities nearby include the KTM Kommuter at Seri Setia and LRT stations at Asia Jaya and Kelana Jaya. .
Built-up Area
Comprising 664 condominium units sited within four (4) low-density blocks, Park 51 residency sits on a fresh 99 year leasehold land. With built-up areas ranging from 665 sq ft to 1143 sq. ft, pricing per square feet is in the region of RM275 – an extremely attractive price given its location, quality and features. Purchasers are also spoilt for choices as there are eight (8) different design layouts to choose from.
Development Concept
Designed with practicality in mind and built on a renovation free concept, each unit is equipped with a spacious kitchen and comes complete with ample drying area and a utility room. To ensure an enjoyable living experience, each room is practically sized, to match the generous living and dining spaces, high ceiling and imported quality floor finishes. A free car park lot is allotted to each unit and purchasers are given the option of either purchasing or renting additional parking lots. Purchasers of duplex units on the other hand will qualify for two (2) free parking lots.
The Company’s Initial launch saw the entire 256 units in Block D of the Residency @ Park 51 snapped up in record time despite the economic slowdown – a sure indicator of the interest and demand generated for this project. Currently the Company has put on sale 136 units of its Block A and sales have exceeded expectation what more with its attractive ‘zero-entry’ offerings where the Developer not only bear the interests on loans during the construction period but also bears the legal fees and disbursements for the Sales and Purchase Agreements as well as the Loan Documentation. This package is specially designed for Block A purchasers and going by the take-up rate, it may not last long. Block B, also comprising 136 units is expected to be launched in September 2009 but on different terms and conditions.
The Developer is confident of the appreciation of investment value for properties at Park 51. With matured and affluent neighbours such as Damansara, Kg. Tunku, SS2 and Tropicana, purchasers can possibly expect a 20%-30% capital appreciation as well as an excellent take-up rate on high rental values when the project is brought to completion around December 2011.
Amenities & Facilities
Taipan Focus Sdn Bhd has a reputation for delivering quality residential, commercial and recreational properties. They have shown tremendous sucesses, notably within the Petaling Jaya area, producing prompt and well-finished properties at attractive prices. A point of note is that all their developments appear to have been completed much ahead of schedule – something few developers can lay a claim.
Specialising in high-rise residential properties and commercial properties, Taipan Focus has proven itself consistently with an excellent and uncompromising track record, which is evident in the success of their various developments. Park 51 will not be any different.
The Developer
Taipan Focus Sdn Bhd has a reputation for delivering quality residential, commercial and recreational properties. They have shown tremendous sucesses, notably within the Petaling Jaya area, producing prompt and well-finished properties at attractive prices. A point of note is that all their developments appear to have been completed much ahead of schedule – something few developers can lay a claim.
Source from thestar.com.my
Plaza Damas 3, one of the latest sophisticated lifestyle developments from Mayland Universal Sdn Bhd, exudes excitement and vibrancy and is set to delight even the most discerning of buyers.
Location
Strategically located in the hub of Sri Hartamas, Bangsar and Mont Kiara, this thriving development ensures that the needs and convenience of the residents are met. Built on 5.42-acres of land, Plaza Damas 3 is highly accessible via Jalan Duta, Jalan Kuching, as well as the SPRINT Highway.
This freehold development is mere minutes away from neighbouring residential and commercial buildings such as Puncak Prima Apartments, Taylors College, Hartamas Shopping Centre and Plaza Damas.
Built-up Area
The service apartments come in 6 beautiful designs presenting the studio, one-bedroom and two-bedroom set-up with built-up areas from 488 sq ft to 1,325 sq ft. This compact and exclusive residence comes fully furnished and is the ideal choice for your perfect home or investment. Prices for these attractive homes are tagged from RM310, 100 to RM960, 000.
Launch
Fresh from the success of its shop offices launched earlier this year, Plaza Damas 3 is now welcoming potential owners to register for its lavish range of service apartments launched recently in July this year. Both the service apartments and shop offices are targeted for completion in March 2011. Bumiputra purchasers will be able to enjoy a 5% rebate.
Facilities & Amenities
Plaza Damas 3 also sets a great impression with its many comprehensive amenities. Among them are a fully-equipped clubhouse with modern facilities such as a gymnasium, a swimming pool with wading pool, games room, sauna and a function room.
Residents will be spoilt for choice as there is a fabulous array of over 70 eateries offering a choice of cuisine from local to international dishes and 200 retail shops throughout the area. It is also in close proximity to international schools such as the Mont’ Kiara International School and the Garden International School. In total, Plaza Damas 3 is an excellent embodiment of a well-planned and well-located property.
The Developer
The developer, Mayland Universal Sdn Bhd is part of the Mayland Group of Companies, one of Malaysia’s leading property developers. Founded almost two decades ago, Mayland is primarily engaged in property development and investment in Malaysia. Its success story started with the signature Plaza Damas integrated development in Sri Hartamas that pioneered the now-popular studio living concept, which underscored its sensitivity to market sentiments.
Source from thestar.com.my
Waking up to chirping birds, taking in the cool fresh breeze from the top of a hill and watching the glimmering metropolitan lights in the dark of the night while enjoying the serenity of a home away from the hustle and bustle of the city, are all part of the idealistic dreams fleeting through the mind of a home owner.
Location
Strategically located along Jalan Damansara, Country Heights is spread over 81 hectares within the lush hilly foliages of Damansara and offers not only easy access to swanky areas such as Mont Kiara, Sri Hartamas, Petaling Jaya and One Utama (all within 10 minutes) whilst having the privilege of the much sought-after unique hillside natural terrain living. Home also to Kuala Lumpur’s tallest man-made waterfall as well as a 1.2 kilometre jungle trek & ravine path, residents of Country Heights.
are able to enjoy the foray of flora and fauna native to the hillsides of Damansara.
Adhering strongly to the ethos of “hillside living”, Country Heights has been designed as a unique architectural work of art, complying to the needs of the modern day urban resident as well as respecting the culture of greener living by integrating architectural design with its natural environment.
Built-up Area
Of the 398 exclusive bungalows, each is treated with cutting-edge modern designs using exceptional materials like stone, timber and marble. Residents are given the privilege to envision and create their dream home, invigorated by the natural environment.
The bungalows have built-up areas ranging from 7,000 – 13,000 sq.ft. of simple sophistication and spacious living areas, providing 5 – 7 bedrooms and 5 – 8 comfortably spacious bathrooms. Green-thumbed residents are also not left out as the total land space allotted for each residence is a sprawling vast 10,000 to 25,000 sq. ft.
Residents with families or those intending to start families can rest easy as Country Heights caters to a secure-gated and guarded community. With security guards and formidable electric fencing, residents are able to drift off to their sleepy wonderlands without worrying about what may lurk within the shadows of the dark velvet night.
Facilities & Amenities
For the more health-conscious, residents can tone their bodies at the swimming pool whereas those who are adventurous can enjoy the jungle track which provides a scenic view while exploring and, of course, what great benefits can one get when breathing in the clean hilly air while watching a part of nature!
With all the elements needed for the perfect hillside lifestyle, residents who wish to escape the hectic hustle and bustle of the urban city life will be given the opportunity to embrace the serenity at Country Heights. Standing in front of the windows in one of Country Heights’ luxurious homes, one can only feel a sense of ease when taking in the view of the azure clear sky overlooking the city below.
Awards & Recognition
When it comes to international fame, Country Heights is no newcomer. In recognition of its efforts in “Ever Searching for a Better Living”, Country Heights Damansara was a winner in the 2008 CNBC Asia Pacific Property Awards. It comes as no surprise that this is one of Malaysia’s most sought-after hill enclaves. Come and experience the moment and make an appointment by calling 03-8948 5555 / 019-6002233 or visit www.countryheights.com.my
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
