PROPERTY developer Sunway City Bhd (SunCity) (6289)faces a great challenge to sell a massive stock of RM1.2 billion houses, particularly the high-end projects in Mont Kiara and Bandar Sunway where sales have been slow, AmResearch says.
The group is aiming for RM330 million in residential sales this year but has so far achieved only RM130 million, the broker said.
The take-up rate for Bayrock South Quay in Bandar Sunway, which has 77 bungalows priced between RM4 million and RM7 million per unit, has stalled at 35 per cent since the soft launch in April last year.
Only about two-fifths of the Vivaldi project in Mont Kiara were sold, where there are 234 units priced at RM850 per sq ft.
"We understand from its management that the group is unlikely to bring prices down to speed up inventory liquidation," AmResearch said in a report yesterday to initiate coverage on the company.
Instead, SunCity plans to lure potential buyers with more attractive financial scheme for selected projects, such as no-interest payment during construction and no payment for up to 24 months, the report said.
AmResearch rates the shares of SunCity as a "hold", with a fair value of RM3.45. The stock appears "fairly valued" after its price more than doubled in March this year, the broker said.
SunCity fell 1.8 per cent to close at RM3.20 yesterday. The stock has risen 83 per cent this year, beating a 36 per cent rise in the FTSE Bursa Malaysia KLCI so far.
The primary catalyst for the shares continues to centre on SunCity's potential to cash out from its large portfolio of investment properties worth an estimated RM3 billion to RM4 billion via the set up of an real estate investment trust (REIT).
"We, however, are skeptical that the group can successfully launch a REIT given our concern over pricing and quality of assets to be injected," AmResearch said.
Aside from Sunway Pyramid shopping mall and Wisma Denmark, other assets that the group plans to sell into the property trust are not really suitable for a REIT, it pointed out.
Sunway Group had planned to float a REIT which holds its key assets that include office towers, retail malls, a hospital and university hostel by as early as 2007. The plan has been delayed so far, mainly due to unfavourable market conditions.
Source from btimes.com.my
Set amidst lush tropical greenery in the heart of Ara Damansara, Ara Hill is an emerging and exclusive township that epitomises luxury and serene living within the city.
Location
Strategically situated along the Sultan Abdul Aziz Shah Airport Road, within Damansara, Subang Jaya and Kelana Jaya neighbourhoods, Ara Hill is easily accessible from landmark areas such as Shah Alam and Petaling Jaya via the New Klang Valley Expressway (NKVE) Subang Interchange and the Federal Highway. It also neighbours the Tropicana Golf Country Club and is adjacent to The Saujana Gold & Country Club, making the development one of prime location and connectivity.
Built-up Area
Ara Hill is a low-density development with only 25 units per acre, comprising both medium-rise condominiums and low-rise villas spread across 16-acres of beautiful resort-styled landscape. This top-quality development meets the exacting standards of luxury lifestyle and comfortable resort living.
Ara Hill Resort Villa is a 3-storey, 20-block development offering 110 units with five unique layout designs that range from 1600 sq. ft. to 4200 sq. ft. All these units were sold out successfully upon initial launching in 2007.
Ara Hill Resort Condominium is a medium-rise development of about 8-storey to 10-storey high per block. There are 11 layout designs to choose from with measurements between 1600 sq. ft. and 2390 sq. ft. Prices range from RM666,900 to RM1,028,888 per unit.
Specifications
Each unit in the condominiums comes with meticulously selected materials and fixtures, fitted with luxury finishes such as timber flooring for each bedroom, polished homogenous tiles for the foyer, living & dining areas, air-conditioning units and a built-in central hot water system.
Additionally, selected units enjoy extra fixtures such as built-in wardrobes, kitchen cabinets and a food waste disposal unit as well as a private balcony overlooking the lush greenery specially sourced from the Asean region.
Facilities & Amenities
Ara Hill residents can enjoy the exclusivity of a clubhouse that has an extensive range of recreational and sports facilities such as swimming pool, tennis & squash courts and a children’s playground. It is a community within itself, with convenient amenities such as a nursery, gymnasium, retail outlets and a community hall for residents to hold special events.
Apart from the abovesaid facilities, well-designed landscapes surrounding Ara Hill provides excellent Feng Shui feature with beautiful sceneries and atmosphere; in the midst of it a 1.5km shaded walking path.
Set within a secure gated community, each condominium building comes with CCTV surveillance, ensuring maximum protection. A comprehensive security system further ensures the residents a safe haven, including a security patrolling service and a solar CCTV system that links to a police beat.
The completion date for Ara Hill is due end of this year. The development is now in its final phase of launching, with four blocks of a total of 88 units left for sale. As an additional service to its homeowners, the developers have provided an upgrade service of private and larger gardens, pavilions and lanais for selected units; a 3-year free pest-management service to all homeowners is also included.
The Developer
Sime Darby Property, an established property developer, has significant presence in the Asean region with noteworthy projects, awards and achievements. This developer looks beyond bricks and mortar in each project when inculcating community needs for prospective residents with a commitment to deliver quality homes and designs within the projected completion date. The market recognises the value proposition that Ara Hill offers and appreciates the efforts that have gone into making this development a success.
Source from thestar.com.my
A contemporary design home that reflects a garden resort living environment, Sri Pulai Perdana 2 (SPP2) comes after a highly successful and acclaimed Sri Pulai Perdana, with the trademark quality features of its predecessor and even more.
Location
Sri Pulai Perdana 2 is strategically located on major roads and expressways including the Skudai-Pontian Highway and the North-South highway. It takes 15 minutes to drive to Senai International Airport and 25 minutes to the Johor-Singapore Causeway, connecting to Singapore. The area surrounding SPP2 is well connected by extensive amenities and conveniences.
Residents are able to enjoy proximity to shopping centres such as Jusco and Giant hypermarkets. Academic institutions such as University Technology Malaysia and national schools are also nearby, making SPP2 an exclusive garden homes resort that also closely connects with urban dwelling. Created as another showpiece within the Skudai Development corridor and the Iskandar Malaysia Special Economic Zone, SPP2 is a premium upmarket housing development of contemporary housing designs that caters to the discerning and privileged. 
Built-up Area
SPP2 homes are Renovation Free Homes built for practical and quality living, using superior products and specifications that provide buyers with a good quality investment purchase at an affordable price for first-time house owners or people looking for a home upgrade.
This resort-styled development offers FREEHOLD double-storey terrace houses in 2 contemporary designs; Type A & C comprising only 110 units, respectively.
Type A : Built-up area : 2,248 sq. ft. Land area of 24ft x 70ft. 4 Bedrooms+2 utility rooms & 3 bathrooms. Price:RM318,000
Type C: Built-up area : 1,639 sq. ft. Land area of 20ft x 70ft. 4 Bedrooms & 3 bathrooms. Price:RM248,000 Targeted for launch this month, this project is expected to be completed in 2011.
The developers are offering an early bird discount for buyers as well as Easy Home Ownership 1 (subject to loan approval), which allows the buyer to pay only 5% initially and thereafter upon completion of the development.
Amenities
Embracing the concept and lifestyle of garden resort living in a relaxed and carefree setting, SPP2 has the distinctive feature of an exclusive Clubhouse that boasts among other facilities a swimming pool and gym, allowing residents an enjoyable and healthy lifestyle experience at their convenience and comfort. A comprehensive gated and guarded security system with 24 hours patrolling service also ensures protection and safe haven for its residents
The Developer
Listed on the Main Board of Bursa Malaysia, Mah Sing Group Berhad boasts a strong reputation as a premier lifestyle developer and a proven track record for delivering premium, innovative homes on time. Since their inception in 1965, Mah Sing has achieved recognition as a developer of niche products and trend-setting townships, with developments set in prime locations around Klang Valley and Johor Bahru.
An award-winning developer, the group's hallmarks are developments that reflect a contemporary lifestyle, with grand entrances, lush landscaping and practical yet functional homes with quality finishes within a guarded and gated environment harmonising with its environmentally friendly surroundings.
Source from thestar.com.my
Sprawling over 88 prime acres of land is Kenny Heights, a prestigious and luxurious midtown development by KH Land Sdn Bhd.
Location
Kenny Heights is nestled in the vicinity of established and affluent neighbourhoods such as Mont’ Kiara, Bangsar, Kenny Hills and Damansara Heights. Strategically located only 10 minutes to KLCC and 5 minutes to KL Sentral, Bangsar and Damansara, Kenny Heights is also well served by major roads such as Jalan Duta and highways including the New Klang Valley Expressway (NKVE). Apart from this, it is also surrounded by thriving commercial centres as well as private international schools such as the Garden International School and Mont Kiara International School.
Built-up Area
Kenny Heights Estate is an exclusive collection of 49 units of 4-storey town villas on 3.7 acres of freehold land. Designed by world-renowned architects, Kengo Kuma & Associates, its architecture is elegant and unique, with an interior that incorporates nature into the living space creating an open, relaxing and vibrant feel. With 10 signature designs of 4-storey exclusive town villas to delight the discerning home-owner, these homes offer built-up areas ranging from 5229 sq ft to 6,664 sq ft. assuring ample family space.
Design & Concept
A master in harmonising design philosophy and local culture, Kengo Kuma created Kenny Heights Estate’s exclusive villa home designs incorporating both natural elements and the natural effects of sunlight in the living spaces and the architectural design of the building. Elegant and understated, the villas’ indoor/outdoor concept ensures an open home concept, ensuring the visual connection with nature all the while creating a healthy and serene living environment for its residents. Some of the selected units will also feature a unique vertical landscaping and lush landscape designed by French botanist Patrick Blanc, well known for his invention of the Vertical Garden, also known as the Living Wall.
Each villa has 4 to 5 bedrooms, a private lift, a garage, and the most distinct feature of all; a 36-foot long private swimming pool on the top floor! These villas are designed with detailed attention paid to the overall quality and finishing which includes designer built-in kitchen system, designer wardrobes for the master bedroom and second bedroom, air-conditioners in living, dining, dry kitchen and all bedrooms, as well as a high quality sanitary and hot water system for all bathrooms
Facilities & Amenities
Guarded with built-in alarm systems, CCTVs, and security card access, Kenny Heights ensures the safety of residents at all times. To stay connected, there is access to wireless broadband internet.
Kenny Heights offers amenities and facilities such as an exclusive clubhouse equipped with a 25m lap pool, a wading pool a Jacuzzi spa pool and a gymnasium for fitness enthusiasts. Residents have the privilege to organize events on the roof top terrace, dining area, open air lounge or the barbeque deck. The extensive facilities also feature a spa treatment room, locker room and Yoga studio which will certainly compliment the lifestyle here.
Community
Residents living in Kenny Heights Estate will also be treated to the integrated midtown development of Kuala Lumpur, in addition to the combination of generous public spaces such as a piazza with its intimate walkways, lanes and lush gardens to harmonise the natural theme of the development. The master plan envisioned for Kenny Heights also incorporates the creation of a dynamic community with a cultural centre, medical facilities, schools as well a social institutions suitable for the whole community – from residents to office workers. The result equate to a vibrant, integrated and healthier community within an urban metropolis.
Expected to be completed in year 2010, Kenny Heights Estate is perfect for homeowners seeking privacy, security, comfort and convenience. Visit or contact the developer now to enquire for your ideal home within a wonderful neighbourhood.
Remarks :
Built Up: 5, 229 to 6, 664 sq ft
Total units/lots: 49 units of 4-storey town villas
Each villa has 4 to 5 bedrooms, a private lift,a garage and a 36ft long private swimming pool.
Clubhouse facilities include:
25m lap pool, Wading pool, Jacuzzi spa pool, Roof terrace, Dining area, Wine bar, Open air lounge,Barbeque deck, Spa treatment room, and Yoga Studio
Source from thestar.com.my
Muslim fund manager Tabung Haji is looking to invest in properties in Europe to expand its scope of investments.
Its chief executive officer Datuk Ismee Ismail said London was one of the locations the company was looking at.
"To date, we've invested RM2.3 billion on properties, both locally and overseas, which is 20 per cent of our total fund size.
"Right now our foreign properties are located in Mecca and Madinah but we're currently surveying investment opportunities in Europe," he told reporters in Johor Baru yesterday.
Another plan on the cards is a Tabung Haji scholarship for higher education in Islamic studies in a local or foreign institution.
Ismee said the proposal was still at a planning stage.
"We hope to launch the scholarship next year after we decide on the amount and the number of students to be sponsored."
He said the fund's deposit base has been increasing steadily over the past six years by as much as RM1.2 billion annually.
This year, Tabung Haji funds stand at RM23 billion, compared to RM16 billion in 2006.
"Not only has the amount deposited gone up over the years, the number of depositors has also risen.
"Last year, we had 4.5 million depositors. Now, the figure is 4.7 million people," Ismee said.
In 2008, depositors enjoyed a five per cent dividend rate, a return which Ismee said the company would try to repeat for 2009.
Earlier, Ismee and Johor religious adviser Datuk Nooh Gadut handed out aid to 580 underprivileged and elderly folk at the Tabung Haji office in Johor Baru.
A total of RM290,000 was allocated to the Johor branch for the aid, which was in the form of food hampers and cash contributions.
SYARIKAT Perumahan Negara Bhd (SPNB) plans to open satellite offices at all of its projects to enhance promotional efforts to the community.
Managing director Dr Kamarul Rashdan Salleh said at present the promotion of housing projects developed by SPNB was still at an unsatistactory level.
"By building satellite offices, the people within the area can obtain further information on projects being undertaken by SPNB," he told Bernama in a recent interview.
Apart from that, Kamarul Rashdan said SPNB was also in the process of establishing a call centre to deal with all applications, grouses and complaints from customers.
He said that to date his organisation had received a lot of queries, mainly on the rumah mesra rakyat.Under this programme, SPNB is offering home ownership for those with income not exceeding RM18,000 and those facing difficulties in obtaining a housing loan from financial institutions.
According to Kamarul Rashdan, SPNB will also introduce a special package in the near future to attract the public to purchase homes developed by it.
Established on Aug 21, 1997, SPNB is a wholly-owned subsidiary of the Ministry of Finance Incorporated (MOF Inc). Its aim is to develop quality, affordable housing for every family in Malaysia.
SPNB offers four key products, namely, affordable homes, the rumah mesra rakyat,rehabilitation of abandoned projects and charity homes as part of its Corporate Social Responsibility (CSR) programme.
Kamarul Rashdan said SPNB had completed building a total of 8,853 units of affordable homes involving 17 projects in Kedah, Pahang, Selangor, Melaka, Negeri Sembilan, Sabah and Sarawak over 134 hectares.
He explained that at the moment, SPNB was undertaking 35 affordable homes projects throughout the country and involving 35,583 houses.
On the rumah mesra rakyat, he said SPNB had approved a total of 17,839 applications from 35,642 applicants with an allocation of RM1.1 billion.
In the case of abandoned projects, he said SPNB had been directed to rehabilitate 74,652 units of houses involving 257 projects with a deveopment value of RM5.6 billion.
"To date, SPNB has succeeded in completing 75 projects involving 23,185 abandoned houses throughout the country at a development cost of RM433 million," he highlighted.
On the charity homes, Kamarul Rashdan said SPNB had built 149 units of homes throughout the country to date.
He explained that the charity homes was a scheme where SPNB built or repaired homes for the poor for free, through an allocation from its annual profits.
Meanwhile, Kamarul Rashdan said in conjunction with the 12th anniversary of SPNB this year, there were plans to organise programmes such as dialogue sessions and exhibitions, to bring the company closer to the public. - Bernama
PROPERTY developer Malaysia Land Properties Sdn Bhd (Mayland) seems to have the "Midas touch" as all projects developed by it have appreciated in value and in some cases, by threefold.
Mayland, whose projects include the integrated Plaza Damas development in Sri Hartamas, Kuala Lumpur, is confident that this trend will continue for the remaining projects planned at the site.
The entire Plaza Damas project, which started in 1998, is located on a 5.95ha site with Phase 1 and Phase 2 taking up 3.54ha.
Mayland is now developing its RM800 million Plaza Damas 3 that will include serviced apartments and possibly a hotel.
"Our track record has spoken for itself. We do not know of anyone who has bought from Mayland and did not make money. We want our customers to make money," its director Winnie Chiu told Business Times in an interview.
She quoted the examples of its Parklane block of shop offices where 91 units were sold from RM880,000 each in 1998 and today their value has appreciated to RM2.5 million.
Its Waldorf and Windsor apartments in Phase 1, which were sold in December 2007 have appreciated in value to RM240,000 from RM141,000 for the 480 sq ft unit, in less than two years.
Chiu expects the same kind of results for its new launches.
In fact, Mayland's projects are so popular, they are snapped up even before they are advertised. And 50 per cent of its purchasers are repeat customers.
"We sold our 72 units of shop offices in Phase 3 within half a day. It was even before we sent out our advertisement for print," she said, adding that each unit costs RM2.3 million.
According to Chiu, Mayland saw a dip in sales in November 2008, which continued until March this year. However, she is no longer worried as she believes that confidence in the market has returned.
"We are seeing a huge pick-up in sales," she said.
Mayland still has available some 5 per cent of 185 units of serviced apartments in Carlton@Sri Hartamas and 30 per cent of its 230-unit Chelsea@Sri Hartamas for sale.
The pricing for a fully furnished unit starts from about RM820 psf for units measuring 500 sq ft to 955 sq ft.
As part of its plan to make Plaza Damas an integrated development, it is also looking at the possibility of having a hotel in Plaza Damas 3.
Plaza Damas 3 will then be linked by an overhead bridge to Hartamas Shopping Centre and Plaza Damas 1 and 2 within two years.
Source from btimes.com.my
