http://www.palazzio.com.my/images/pop-image01.jpg

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New condo benchmark
Monday April 9, 2007
News Monday April 9, 2007
Thestar (http://star-space.com/news/story.asp?file=/2007/4/9/propertynews/17363360&sec=propertynews)

CONDOMINIUM prices in Kuala Lumpur continue to rise to record levels following the even more pronounced trend in Singapore.

Sunway City Bhd had a successful launch of its Sunway Palazzio condominium project in the Sri Hartamas suburban area of Kuala Lumpur, which was priced at RM846 per sq ft, a new benchmark for the area.

That meant its smallest unit, with a space of about 2,500 sq ft, was priced at RM2.1mil. The project launch was recently held in Singapore where over 30% of units in the first tower released for international buyers were sold, a magazine there reported last week. An official launch has not been held in Kuala Lumpur yet.

This is a new level for the condo market in the city suburbs. It was reported in this column in January that Bandar Raya Developments Bhd sold most of its One Menerung condominium in the Bangsar area at an average of RM750 per sq ft, a record in that neighbourhood. Prices in Bangsar could rise further, considering that it is a more expensive area than Sri Hartamas and the nearby Mont'Kiara area.

Sunrise Bhd, the biggest developer in Mont'Kiara, should find a good reception in its upcoming launches. In its latest launch late last year, the 10 Mont'Kiara condominium was priced at about RM530psf or an average of RM2mil a unit.

Buyers of the units had found a bargain as the company is expected to price its next project, eleven@Mont'Kiara, at a higher price per sq ft and from about RM3mil a unit.

The rising prices would lead analysts to re-examine their forecasts, which are likely to be revised upwards, along with their estimates of the asset values of property companies.

Some analysts have started to do so. CIMB Research, for instance, last week raised SP Setia Bhd's revised net asset value (RNAV) to RM7.10 from RM6.89. With that, CIMB increased its target price for SP Setia to RM10.00 from RM9.00 as it moved up the RNAV premium from 30% to 40%. The stock closed at RM7.85 on Friday.

While many analysts use earnings as a valuation yardstick here, it is not unusual in developed capital markets to use asset values to appraise a stock's worth. The use of RNAV is particularly suitable where a company's properties comprise small parcels that can be sold quickly.

In SP Setia's case, it is a large landowner but it has proven it can progressively sell its inventory at steady profit margins. Furthermore, bungalow land values at its Setia Eco Park have appreciated to RM110 per sq ft in its latest sales from around RM65 per sq ft when first launched in 2004, CIMB reported.

Sunway Palazzio condominium (http://202.95.83.88/International/Intl_Palazzio.pdf)

They also have a website at http://www.palazzio.com.my/ Went to the Spore launch and collected their brochures and DVD.



(http://img228.imageshack.us/my.php?image=palazziovr8.jpg)


[IMG]http://img228.imageshack.us/img228/4823/palazziovr8.th.jpg (http://img228.imageshack.us/my.php?image=palazziovr8.jpg)

wow!! nice

i wish it is 4 times taller though :D

They also have a website at http://www.palazzio.com.my/ Went to the Spore launch and collected their brochures and DVD.



(http://img228.imageshack.us/my.php?image=palazziovr8.jpg)


[IMG]http://img228.imageshack.us/img228/4823/palazziovr8.th.jpg (http://img228.imageshack.us/my.php?image=palazziovr8.jpg)


Oh, you were in Singapore? How's the property exhibition?

I heard that they sold 30% in Singapore during the exhibition. Selling like hot cakes.....

:cheers:

Oh, you were in Singapore? How's the property exhibition?

I heard that they sold 30% in Singapore during the exhibition. Selling like hot cakes.....

:cheers:


Yes, they are coming to Spore this weekend again. Pretty shrewd marketing ... usually when Msian developers come to Spore, they are selling leftover units that are unsold in KL.

This time they launch overseas first with one of the towers and reserving one tower for KL launch. The 'overseas' tower are slated for exhibition launches in Jakarta, Spore and Hong Kong. They have a deferment plan (20% down and nothing else until handover) or rental guarantee (7% gross ROI for 2 years for selected units).

Investors from Jakarta, Spore and Hong Kong are used to much higher prices and lower rental returns ~ with capital gains tax abolished, Palazzio is an interesting investment proposition for the buyers.

Yes, they are coming to Spore this weekend again. Pretty shrewd marketing ... usually when Msian developers come to Spore, they are selling leftover units that are unsold in KL.

This time they launch overseas first with one of the towers and reserving one tower for KL launch. The 'overseas' tower are slated for exhibition launches in Jakarta, Spore and Hong Kong. They have a deferment plan (20% down and nothing else until handover) or rental guarantee (7% gross ROI for 2 years for selected units).

Investors from Jakarta, Spore and Hong Kong are used to much higher prices and lower rental returns ~ with capital gains tax abolished, Palazzio is an interesting investment proposition for the buyers.

Interesting. U have the brochure? I wonder whether you can scan or take a photo to post it here? The project looks interesting with the rental guarantee return definately will attract more investors to snap up the units.

So beautiful!!!

Some specs -

http://img231.imageshack.us/img231/8881/p1re8.th.png (http://img231.imageshack.us/my.php?image=p1re8.png)

http://img405.imageshack.us/img405/5273/p2kt9.th.png (http://img405.imageshack.us/my.php?image=p2kt9.png)

http://img63.imageshack.us/img63/2308/p3wo9.th.png (http://img63.imageshack.us/my.php?image=p3wo9.png)

It's a very handsome project indeed. :okay:

The name is a bit unfortunate though: they should have called it Palazzo. :yes:

Well , the name Palazzio is a nice name, don't you think? It is similar to Palazzo Monte Casino in Johannesburg, South Africa. The hotel is fantastic...

Of course it's a nice name, a very nice name even! Palace ... that carries a grand aura and a whole lot of promise with it. But, as I said, they should have called it Palazzo. :yes:

Very nice.

Some specs -

http://img231.imageshack.us/img231/8881/p1re8.th.png (http://img231.imageshack.us/my.php?image=p1re8.png)

http://img405.imageshack.us/img405/5273/p2kt9.th.png (http://img405.imageshack.us/my.php?image=p2kt9.png)

http://img63.imageshack.us/img63/2308/p3wo9.th.png (http://img63.imageshack.us/my.php?image=p3wo9.png)

Thanks for the spec..... :)

They have sold 40 plus units so far. Will be exhibiting in HK next week and Indo thereafter. Not sure when launch in KL will take place.

check out their website, they have upload the website with floor plan and perspective. impressive perspective...

http://www.palazzio.com.my/images/pop-image04.jpg

http://www.palazzio.com.my/images/pop-image11.jpg

Lovely project. What about the location?

In Sri Hartamas, near the linkhouses, not bad a location IF they do not have the high tension cables backing this development. Proximity is not good. :ohno:

so sudah lauching? another gr8 project by sunway group

Was told that except for a few units, one of the block is sold out. They are going to start marketing the next block early 2008 in Singapore (again!), HK etc. Not sure when they will launch officially in Malaysia. Anybody heard anything else on this?

^^ That's really weird (but perhaps not unusual?) that they would start by advertising those condo spaces abroad rather than at home. :?

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Mideast fund snaps up Sunway City condo
By Vasantha Ganesan Published: 2008/01/07
BusinessTimes



SUNWAY City Bhd has concluded its second en bloc sale - the Sunway Pallazzio Block B for an estimated RM220 million to a firm linked to a Middle Eastern fund.

The buyer for the property, which is under construction, is Radiant Splendor Sdn Bhd, a special purpose vehicle affiliated to the fund, sources say.

Sunway Pallazzio, an 80-unit super luxury condominium in Sri Hartamas, was sold at around RM750 per sq ft. The building is due to be completed in 2010.

The sale underscores the attraction of Malaysia's property market, which has been buzzing since the government lifted a sales tax and made it easy for foreigners to own property.

The source added that with the sale, Suncity could save up to RM10 million in promotional and marketing costs.

The announcement is set to be made this week.

Suncity's chief financial officer Koong Wai Seng declined to comment on the deal when contacted.

However, Koong noted that Suncity had completed its first enbloc sale - the Sunway South Quay deal with a South Korean investor - on December 27 last year.

This 249-unit luxury condominium in Sunway South Quay, was sold for RM170 million to Luxury Court Sdn Bhd, a joint venture between property developer CI Korea and Daol Fund.

Daol Fund is South Korea's First Real Estate Asset Management Specialists with US$10.7 billion (RM35.1 billion) asset under its management.

Established in June 2006 with a US$310 million (RM1.02 billion) real estate fund, it is backed by South Korea's four top-tier banks and two major securities firms including Worri Bank, Hana Bank and National Agricultural Cooperative Federation Bank.

The Sunway South Quay Korea community will be a twin city of the the US$337 million (RM111 billion) HongCheon Senior Leaders country project under development.

"With the Daol Fund (in the picture), the likelihood of the option given to CI Korea to purchase another enbloc property next to the first property has increased," Koong said, adding that the price tag on the option is around RM200 million.

ahhh...those arab...so rich!!!!

SunCity has RM1.2b unbilled revenue
The record-breaking amount comes from the sales of Sunway Palazzio Block B and Sunway South Quay condo units

Published: 2008/01/08




SUNWAY City Bhd (SunCity), the Sunway group’s property arm, has achieved a record-breaking unbilled revenue of more than RM1.2 billion with the en bloc sales of two property projects.

Managing director for property development Ngian Siew Siong said the company has already sold its super luxury condominium project Sunway Palazzio Block B to local Bumiputera developer, Radiant Splendour Sdn Bhd.

The 80 units super luxury condominium in Sri Hartamas involves a gross development value (GDV) of RM219 million.

At a media briefing in Petaling Jaya today, Ngian said the company has also completed the sales of 247 units of luxury condominiums in Sunway South Quay to Korean investors in December last year.

The luxury condominium involves a gross development value of RM171 million.

Ngian said the company is confident of achieving RM1.35 billion sales for the financial year ending June 30 this year.

“With the two en bloc sales, we expect we will perform better to surpass this target,” he said.

On SunCity’s overseas expansion plan, Ngian said the company is developing a mixed development project in Hyderabad, India involving a GDV of RM1.5 billion.

He said the company is also eyeing some property projects in Vietnam and China.

The company’s overseas projects are expected to contribute about 30 per cent to its revenue in next five years. — Bernama

SunCity confident 2008 profit will beat forecasts
Analysts have forecast a net profit of RM160 million and revenue of RM1.41 million for SunCity this year

By Sharen Kaur Published: 2008/01/09


SUNWAY City Bhd said its net profit and revenue for fiscal 2008 will beat forecasts as it sells two large properties and promises more of similar sales in the future.

Property sales are set to hit a record RM1.35 billion for the year to June 30 2008. It has managed to book sales of RM924 million so far, said Ngian Siew Siong, managing director for property development.

Analysts have forecast a net profit of RM160 million and revenue of RM1.41 million for SunCity this year.


Last year, it achieved a net profit of RM147 million on the back of a RM1.14 billion revenue.

"We can bring in more revenue through enbloc sales. This is why we are optimistic of our sales figure," he said at a briefing in Petaling Jaya yesterday.

Ngian is also bullish on future earnings as it expects to launch the first phase of its RM1.5 billion Sunway Opus Grand Residency in Hyderabad, India, by April.

It also expects to wrap up two new enbloc sales at its RM3.5 billion Sunway South Quay project here next year.

Ngian announced that SunCity has achieved a record unbilled sales of RM1.2 billion. Unbilled sales are sales that have yet to be recognised in a company's account.

"The unbilled portion will form the foundation for earnings in the next 18 months," he said.

Unbilled sales jumped 47 per cent to RM1.2 billion after it completed two enbloc deals recently.

The first is a RM171 million deal to sell a 249-unit luxury condominium block in South Quay to Luxury Court Sdn Bhd, a joint venture between developer CI Korea and Daol Fund.

Daol Fund is South Korea's first real estate asset management specialists with assets worth US$10.7 billion (RM34.98 billion).

The second deal is to sell Sunway Palazzio block B in Sri Hartamas to Radiant Splendour Sdn Bhd, a local Bumiputera firm, at around RM750 per sq ft or RM219 million.

Both the blocks are under construction and will be completed in 2010.

South Quay has nine other condominium blocks worth in excess of RM1.5 billion, which will be launched and sold in the near future.


He said CI Korea plans to buy another enbloc property in South Quay worth some RM200 million.

[N]7/2/08 BY MERCURI[/B]

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MORE PICS

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Was told that except for a few units, one of the block is sold out. They are going to start marketing the next block early 2008 in Singapore (again!), HK etc. Not sure when they will launch officially in Malaysia. Anybody heard anything else on this?

:ohno:Dun think will officially launch in Malaysia since almost Sold 80% of two tower.
For the moment Pallazio condo only left 25 unit with only 10 unit is in the 2 years 7% GRR.
well, we will going for Singapore exhibition end of next months.
more enquiry please drop me a email

venessachee@sunway.com.my

22-3-08 by mercuri

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http://img36.picoodle.com/img/img36/4/3/22/f_522005030m_880aee5.jpg

marketing gimmick. saw several units available...

marketing gimmick. saw several units available...

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SunCity shines on innovative projects
Property Talk
By S.C. CHEAH


SUNWAY City Bhd (SunCity) has established a strong brand since it started developing Bandar Sunway in Petaling Jaya in the early 1990s.

Today, the group, listed on Bursa Malaysia main board, has spread its wings overseas as well as other parts of the Klang Valley, each time bringing with it a reputation of building quality and innovative homes.


One may recall how popular The Ritz two-storey link houses in Bandar Sunway were when they were launched in 1990. Priced at RM153,888, The Ritz boasts a large master bedroom of almost 400 sq ft, so big that part of it occupies the top of the car porch! The master bedroom has a large attached bathroom with a long bath.

It also introduced a unique “super link” for its Bandar Sunway Semenyih in 2002. Although not an actual super link house in the true sense of the word as the built-up area is only about 1,600 sq ft, it has an extra-wide frontage but only a length of 51ft.

The group was also one of the first to provide a swimming pool for apartments as in the case of its RM95,000 apartments in Bandar Sunway in 1990.

SunCity takes great pride in its show houses and is among the best in the market. This is evident in its show houses at Sunway Kayangan, D'Villa Bungalows @ Kota Damansara and the more recent ones at Villa Manja at Sunway SPK Damansara.

Over the years, the group has won numerous prestigious awards, including the Superbrands Malaysia Award 2005-2006, The Edge Malaysia Top Property Developers Awards 2003-2007, and Euromoney Real Estate Award 2006 Top 3 Property Developers in Malaysia. It also secured the MS ISO 9001: 2000 Quality Management System certification and was ranked sixth in the Hewitt-Fortune-RBL Top Companies For Leaders 2007 - Asia Pacific.

The group is also known for setting new benchmarks not only in quality, stylish designs but also in pricing. It is one of the few developers that ventured into the very high-end market like its 77 units of Bayrocks garden waterfront villas at the RM3.7bil Sunway South Quay (formerly Sunway Science City) whose prices start from RM4.53mil to RM6.2mil!

The Sunway South Quay, one of the two big former ex-mining lakes in Bandar Sunway (the first lake had been transformed into the Sunway Lagoon Resort more than 15 years ago), is set to be a long-term money-spinner for SunCity.

SunCity has several high-end projects in the exclusive Mont'Kiara/Sri Hartamas neighbourhood in Kuala Lumpur. They are the Kiara Hills, Casa Kiara 1, 2 and 3, Palazzio Sunway and the Sunway Vivaldi, launched in April.

The Sunway Vivaldi at Mont'Kiara comprises of 228 freehold condominium units priced from RM2.6mil to RM6.3mil. The units boast spacious floor layout of up to 4,000 sq ft. Features include a private lift lobby, cascading and meandering water features, Olympic-length swimming pool and a multi-level central eco-park.

Perhaps the most iconic of all is its Palazzio Sunway luxury condominiums in Sri Hartamas where the 160 units in two 20-storey blocks were initially priced from RM850 per sq ft.

The group's latest project is the RM400mil Villa Manja @ Sunway SPK Damansara that is being developed by Sunway SPK Homes Sdn Bhd, a joint venture between Sunway City Bhd and Syarikat Permodalan Kebangsaan Bhd (SPK).

This gated community with security guard house offers only 196 freehold semi-detached homes with a “bungalow-like” design, wide and open spaces, and a green park. Access to this 33-acre residential enclave is via a single entry and exit point, providing further exclusivity and security for residents.

Prices of the Twin Villas start from RM1.97mil each with built-up areas from 3,948 sq ft (45ft x 90ft). There are six bedrooms with five attached bathrooms. The porch can park four cars.

SunCity chief operating officer Ho Hon Sang said about 80% of the 100 units launched last August had been sold.

“We're now opening for sale the balance of the 96 units. This is a single-product development with a low density of only six units per acre. There are no T-junctions and all the houses are placed in a north-south direction,” he said.

The homes come with many extras, including nine units of energy efficient and eco-friendly air-conditioners, security alarm, automatic gate, motion detector light, solar water heater, water booster pump, whirlpool system bathtub for master bedroom, shower screens to all bathrooms (except maid's bath), glass balustrade at staircase and balcony, anti-subterranean termite treatment, and five-year warranty for external painting.

SunCity senior manager (marketing and sales) Michael Lee said all four show houses had been sold. Two of them that are furnished have been sold for RM3.1mil and RM2.7mil.

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demn hot lah dis one....

I must say very nice finishing - Gaggenau oven and cooktop, Bosch washing machine/dryer/fridge and wine cooler

http://img26.picoodle.com/data/img26/3/8/17/f_1m_57d8d6b.jpg (http://www.picoodle.com/view.php?img=/3/8/17/f_1m_57d8d6b.jpg&srv=img26)

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nice showroom

luxurious !!! makes me hate aussie apartments alot haha

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what hapend 2 dis project?? delay is it??...the site seems so quiet lately

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Sunway Palazzio won 1st place (Gold Award) 1st High Rise residential development in Malaysia to be awarded BCA Green Mark

Sunway Palazzio won 1st place (Gold Award) 1st High Rise residential development in Malaysia to be awarded BCA Green Mark


3 Sunway City projects win Green Mark certs
Published: 2009/07/02

THREE of Sunway City Bhd’s projects recently won the coveted Green Mark certifications from Singapore’s Building and Construction Authority.

Its high rise residential development called Sunway Pallazio in Sri Hartamas won the Green Mark Gold Award and the Best High Rise Development in Malaysia Award, while Sunway Challis Damansara received the Green Mark Certified Award.

Tower A - Level 6
http://i658.photobucket.com/albums/uu302/f338/P1070521.jpg

Tower B - Level 4
http://i658.photobucket.com/albums/uu302/f338/P1070522.jpg

Sunway Palazzio menang anugerah hartanah

KUALA LUMPUR 16 Julai - Sunway Palazzio sebuah projek di bawah Sunway City Bhd. (SunCity) terpilih untuk memenangi Anugerah Hartanah Asia Pasifik 2009 bagi kategori Pembangunan Kediaman Tinggi Terbaik di Malaysia.

Pengarah Urusan, Pembangunan Hartanah SunCity, Ngian Siew Siong berkata, kecemerlangan merupakan cogankata syarikat dan kami sangat berbangga kerana telah diperakui oleh mereka.

''Kemenangan ini membuatkan SunCity mengetuai pembangunan dan meningkatkan pendekatan yang lebih holistik bagi membangunkan hartanah yang berkualiti.

''Kami komited untuk menjadi pemangkin dalam projek mesra alam dan kami juga akan mensasarkan konsep dan reka bentuk penghijauan bandar,'' katanya dalam kenyataan di sini di sini.

Anugerah Hartanah Asia Pasifik mengiktiraf kecemerlangan projek pembangunan hartanah pada setiap tahap pembangunan.

Diasaskan pada 2008, anugerah ini meraikan kecemerlangan industri pembinaan seluruh dunia dan objektifnya adalah memberi semangat dan mempromosikan piawaian antarabangsa.

Sebelum ini, Sunway Palazzio juga telah dianugerahkan Anugerah Emas (Pembangunan Kediaman Tinggi -Sementara) di bawah Skim Hijau Bangunan dan Pembinaan Singapura.

Siew Siong berkata, penganugerahan ini merupakan penyempurnaan yang berprestij dalam industri ini dan ia meletakkan SunCity sebaris dengan pemaju lain di peringkat antarabangsa.

''Syarikat akan terus memberikan komitmen bagi mencapai kecemerlangan dalam perkhidmatan pelanggan dan meneruskan perubahan serta pembaharuan dalam industri pembinaan,'' katanya.

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Ngian with a model of Sunway Palazzio that was awarded the BCA's Green Mark Gold Award

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Thank you, James, for posting your own photos on the progress of this project! :okay:

I for one appreciate that enormously.

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slow huh

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