SECTION 13-16 | Petaling Jaya | Proposals, Projects & Construction Updates

[patchay]

Looks like F&N City is coming into reality....



F&N in venture to develop land
Business Times | Nov 11, 2011
http://www.btimes.com.my/Current_New...cle/index_html

Fraser & Neave Holdings Bhd (F&N) is proposing a joint-venture with FCL Centrepoint Pte Ltd (FCLC), via its subsidiary, Vacaron Company Sdn Bhd (VCSB), to develop 554,264 square feet of land in Seksyen 13,Petaling Jaya.

In a filing to Bursa Malaysia today, F&N said both parties would each have
a 50 per cent equity interest in VCSB.

To date, F&N Ltd holds 100 per cent equity interest in FCLC, via its
wholly-owned subsidiary, Frasers Centrepoint Limited (FCL), and 56.74 per cent in F&N.

Under the proposed joint venture, VCSB would jointly carry on the business
of property development, property management, investment and leasing.

F&N said the proposed JV would allow the group to partially realise the
value of the land, in the form of gains of approximately RM54.65 million,
arising from the sale of land.

"It will further enable the F&N Group to retain 50 per cent interest in the
land and continue to share the returns from the proposed development," said the statement. -- Bernama

[davidwsk]

Avenue D Vogue, Sec 13 - CenterStage

www.avenuedvogue.com.my

[rizalhakim]

Originally Posted by davidwsk

Avenue D Vogue, Sec 13 - CenterStage

www.avenuedvogue.com.my

ugly fatty

[davidwsk]

Yup....their model is acutally worse than renders...
haha

[THT-United]

Originally Posted by rizalhakim

ugly fatty

Yucks, what a fugly-looking building... Makes you wonder what type of cheapskate architect was engaged by Inspiration Group to design that tower... And is it that tall one behind the Best Western Hotel, since this Avenue building is shown as within the CenterStage complex?

[rizalhakim]

Latitud3
25storey Srvd Apartment (96units)
price from RM471k
Developer - Urbank Hallmark
Location - Jln University PJ
image hosted on flickr


image hosted on flickr


image hosted on flickr

[davidwsk]

Latitud3 - Idea is really cool..

but location wise....hurmmm.....really near to the UM Medical and Mahsa Colllege...

[davidwsk]

Originally Posted by patchay

Looks like F&N City is coming into reality....



F&N in venture to develop land
Business Times | Nov 11, 2011
http://www.btimes.com.my/Current_New...cle/index_html

Fraser & Neave Holdings Bhd (F&N) is proposing a joint-venture with FCL Centrepoint Pte Ltd (FCLC), via its subsidiary, Vacaron Company Sdn Bhd (VCSB), to develop 554,264 square feet of land in Seksyen 13,Petaling Jaya.

In a filing to Bursa Malaysia today, F&N said both parties would each have
a 50 per cent equity interest in VCSB.

To date, F&N Ltd holds 100 per cent equity interest in FCLC, via its
wholly-owned subsidiary, Frasers Centrepoint Limited (FCL), and 56.74 per cent in F&N.

Under the proposed joint venture, VCSB would jointly carry on the business
of property development, property management, investment and leasing.

F&N said the proposed JV would allow the group to partially realise the
value of the land, in the form of gains of approximately RM54.65 million,
arising from the sale of land.

"It will further enable the F&N Group to retain 50 per cent interest in the
land and continue to share the returns from the proposed development," said the statement. -- Bernama

For the financial year ended Sept 30, 2011, he said, the dairies division contributed 51% to its revenue compared with 49% in the previous year.
In an announcement to Bursa Malaysia last Friday, F&N said its unit Vacaron Co Sdn Bhd (VCSB) has proposed to form a joint venture with FCL Centrepoint Pte Ltd (FCLC) to carry out a mixed development in Petaling Jaya on land measuring 554,264 sq ft.
F&N has entered into a conditional subscription cum shareholders agreement with FCLC to take up a 50% stake in VCSB.
The project will comprise a hotel, offices, shopping mall, and retail and residential properties.
http://www.thesundaily.my/news/206933

[patchay]

Section 17 PKNS lowrise flats will be redeveloped into serviced aparments, condo, low-cost apartment, office towers and a retail centre.


DKLS Industries in JV with PKNS for RM1.5b project in Section 17, PJ
Business Times | May 4, 2012

KUALA LUMPUR: DKLS Industries Bhd is teaming up with the Selangor State Development Corporation (PKNS) for a proposed mixed property project with a gross development value (GDV) of RM1.5bil.

DKLS said it had on Fridays entered in to a heads of agreement with PKNS to redevelop a parcel of land including the Green Reserve and part of Section 17 in Petaling Jaya, measuring 15.9 acres.

The proposal is a mixed development comprising commercial, retail and residential units anf the GDV of the proposed redevelopment was about RM1.5bil.

"The rationale for the company to participate in the proposed redevelopment is to complement DKLS Group's corporate strategy to pursue new business opportunities at all times aiming to enhance returns from such investments," it said.

[rizalhakim]

PKNS joins with DKLS for RM1.5bil project in Sec 17 PJ
By CHOONG EN HAN
han@thestar.com.my


PETALING JAYA: Not unlike a few other government agencies that own large swathes of valuable land, the Selangor State Development Corp, or PKNS, is pushing ahead with redevelopment plans in some of its prime areas.

A noteworthy development surfaced last Friday in a filing with Bursa Malaysia, where DKLS Industries Bhd said it had entered into a heads of agreement with PKNS to redevelop a parcel of land in Section 17, Petaling Jaya, measuring 6.4ha.

This area currently houses numerous blocks of old flats, including a green reserve for the area.

DKLS said the project would entail a mixed development comprising commercial, retail and residential units with a gross development value (GDV) of a whopping RM1.5bil.


Days numbered ?: The land that currently houses four-storey flats in Section 17 will most likely make way for a mixed development with a gross development value of RM1.5bil

The area concerned has been drawing a lot of interest lately, according to property consultants. It is next to the factory area, which is in the midst of a major redevelopment programme. That area has already transformed itself to become a mixed commercial and residential hub, anchored on the Jaya One development.

Jaya One is currently in its final phase of development with a GDV of RM360mil mainly for residential units, having already developed some RM600mil worth of commercial properties.

Besides Jaya One's planned serviced apartments, there are currently two other similar projects being planned for Section 13.

One is named Pacific Star (opposite Jaya One) developed by Island Circle Development (M) Sdn Bhd, which is a mixed development of commercial space and residential units on a 6.04-acre land. While further up the area, Fraser & Neave Holdings Bhd would be starting site works in September to develop a RM1.6bil mixed development project on 13 acres which is currently housing its factory.

PKNS declined to comment for this article and said it would provide updates once plans were more firm.

It is likely though that the project may have its fair bit of opposition, considering that the redevelopment encroaches on the green reserve located between Section 13 and Section 17, along Jalan Universiti. It is yet unknown if the new plans include preserving or enhancing that green area.



Although the state-owned corporation declined to comment, sources familiar with the situation said that PKNS was likely to engage the affected residents in a similar way that it did when it embarked on the redevelopment of the PKNS Taman Keramat flats in Jalan Jelatek in 2010.

Dubbed the 'Columbia Flats'' for its drug and vice dens during the 1980s, the flats are to be replaced with a RM900mil mixed-development project called Datum Jelatek.

The project comprising four 45-storey buildings of residential and commercial units, a hotel and shopping mall, would be developed by PKNS and its subsidiary company, Worldwide Holdings Bhd.

PKNS had compensated RM250,000 to RM300,000 for each house and RM450,000 to RM500,000 to business lot owners of the Taman Keramat flats.

As for the plans for the Section 17 redevelopment, it had been previously reported that PKNS' business development engineer, Yeo Cheng Chuan, and DKLS Industries Bhd senior manager Yee Chee Yong had proposed a replacement unit at the new development in the same location for the owners of the Section 17 flats.

The report said that residents of the 592 sq ft units would be given a 700 sq ft unit in the new development.

On top of that, there was also a proposal for a RM5,000 moving-out allowance, RM8,000 moving-back allowance as well as a rental subsidy of RM500 per month until the project is completed.

In addition to that, the leasehold period of the new development would be renewed to 99 years instead of 30 remaining on the existing titles.

Last year, PKNS had put the market value of the units at RM96,496 (592 sq ft at RM163 per sq ft) each.

If those plans materialise, it does seem as if the current flat owners would be getting a pretty good deal, considering that another up coming development named Pacific Star, which is located a stone's throw away, is selling for a far higher price.

PKNS is also embarking on several large-scale redevelopment projects, including the Sports City, Kelana Jaya, which is where the PKNS Stadium is located, via a joint development with Melati Ehsan Bhd.

It is also developing the PJ Sentral Garden City, a RM2.6bil joint-venture redevelopment with Nusa Gapurna and the Employees Provident Fund. Nusa Gapurna group is the same developer of the 348 Sentral project in Jalan Tun Sambanthan, Brickfields.

Another PKNS project in the pipeline is the PJ Elevated City, a RM3bil mixed-development project which is also part of the Western Digital factory expansion programme.

Industry sources said that with ownership in different key projects around Selangor, PKNS was likely to retain ownership of a few of the valuable properties to enable itself to venture into becoming a real estate investment trust (REIT).

Previously it had called off a proposed venture with AmanahRaya REIT (ARREIT) to inject some key assets into ARREIT. It is understood that PKNS changed its mind about the injection as it wanted to look at the other properties it was developing, as possible injections into a REIT.

Hence, it is likely that PKNS' REIT injection plans will resurface again at some point, judging from the many other strategically-located redevelopment and urban regeneration projects in the Klang Valley it is working on.

PKNS general manager Othman Omar is reported to have said that the state-owned corporation would be adding another RM6bil worth of new projects by the end of 2012, in addition to the RM14bil that was already announced.

[rizalhakim]

F&N sees revenue from property development in FY16
By TEE LIN SAY
linsay@thestar.com.my


KUALA LUMPUR: Fraser & Neave Holdings Bhd (F&N) will start seeing a new revenue stream from property development come its financial year ending Sept 30, 2016, as it will be launching a RM1.6bil mixed development in its ex-dairy premises in Section 13, Petaling Jaya, in June 2013.

“Currently this 13-acre land houses F&N's dairies production plant. Site preparation works will begin this September, and will see a mixed development which consists of an F&N tower, a hotel, offices, retail outlets and residential suites by June 2013,” F&N chief executive officer Datuk Ng Jui Sia told a media briefing yesterday.

For F&N Dairies Malaysia, production of its new Pulau Indah facilities in Klang has just commenced, and the shift from its plant in Section 13 to Pulau Indah is expected to be completed by September.

F&N is partnering FCL Centrepoint Pte Ltd, a subsidiary of Frasers Centrepoint Ltd (FCL), to develop this ex-dairy premises.

FCL is one of Singapore's top three residential property developers and retail mall owners and operators. It has also developed properties and malls in the UK, Australia, New Zealand, Thailand, Vietnam and China.

F&N had divested 50% of its interest in this development land to FCL and recognised RM55mil in the quarter to March 31, 2012, being 50% of the capital gain of RM110mil.

Meanwhile, most analysts concurred that F&N's earnings would pick up in the second half, but many were still uncertain of its prospects. While the soft drinks segment is doing well, the dairies segment both in Malaysia and Thailand is still uncertain, driven by high raw material costs, and downside bias from its flood recovery.

“F&N is an extremely well-run company and I think they are doing the best they can. However, Malaysia is also a pretty matured market for dairy products. We don't expect to see huge growth in these segments. It will be stable in line with market at best,” said one consumer analyst.

F&N's second-quarter ended March 31 net profits declined by 18.89% to RM107.06mil from RM131.99mil in the previous corresponding period as revenue dropped to RM730.43mil from RM1.01bil previously.

It also declared an interim dividend of 20 sen, which will be paid on Aug 1.

Ng said the key declines came mainly from the cessation of the Coca-Cola business, the 200-day flood disruption in Thailand and higher raw material cost and competitive pressure in the Malaysian dairy operations.

Sales in Thailand dropped by half as production stoppage disrupted supply to the market. The Rojana factory in Thailand recommenced operations in March and ramped up to full capacity in April.

Dairies Thailand's factory was affected by floods, leading to a 52% slump in its first-half revenue to RM231mil. As a result of the lower sales volume, the factory could not cover its overheads, causing an operating loss of RM30mil.

“Even though we should see a stronger second half as Dairies Thailand resumed production in March, we cut forecasts to account for pricier raw materials,” said CIMB Research analyst Foong Wai Mun.

F&N made a cumulative write-off of RM89.44mil for the current two quarters. Interim property damage insurance claims based on current replacement cost accepted by insurers and recognised to date were RM80mil, of which the insurers had disbursed RM74mil in payments.

On a half-year basis, F&N's net profits dropped by 37.7% to RM148.8mil from RM239.07mil on the back of lower revenue, which declined to RM1.47bil from RM2.04bil previously.

F&N mitigated the loss of the Coca-Cola contract by raising its soft drinks revenue without Coca-Cola) by 8%, driven by higher sales of Seasons, Redbull and its new products (Zesta and Clearly Citrus).

Ng added that F&N was rethinking its fruit juice segment as it was also not growing.

“Revenue was also helped by market penetration into Brunei and contract packing for exports to its sister company in Singapore. However, operating profit margins fell 7.6% to 9.3% due to higher commodity prices, especially for sugar,” said Foong.

Meanwhile, Maybank analyst Kang Chun Ee said that until the shift to Pulau Indah, expected to be completed by September, F&N would continue to see rising operating costs as a result of a duplication in operations.

A deferred tax assets (DTA) of RM55mil in relation to the halal hub tax incentive was granted to the plant and the estimated balance of RM21mil in DTA would be recognised in the second half of this year, said Kang.

[patchay]

Official thread >>> http://www.skyscrapercity.com/showthread.php?t=1450316

Originally Posted by patchay

PACIFIC STAR @ SEC 13 PETALING JAYA

[davidwsk]

Early Bird by Johnni Wong | May 17, 2012
Game change in PJ

--------------------------------------------------------------------------------
Jaya 33 Stage 3 and 4


http://www.starproperty.my/PropertyG...ance/21529/0/0

[patchay]

New project

Originally Posted by nazrey

MIXED DEVELOPMENT SEC 14 PETALING JAYA

[davidwsk]

Where is that in Sec 14? Sec 14 got LRT or MRT?

[sc4]

Sec 14 is at the former Jaya Supermarket area

[patchay]

Originally Posted by davidwsk

Where is that in Sec 14? Sec 14 got LRT or MRT?

near asia jaya...

[rizalhakim]

Kumpulan Hartanah bullish on growth this year
By Bernama
Thursday, 21 June 2012 15:34

SHAH ALAM (June 21): Kumpulan Hartanah Selangor Bhd (KHSB), the property arm of Kumpulan Darul Ehsan Bhd (KDEB), is optimistic of growth this year as the company embarks on the development of prime commercial land in Petaling Jaya, said chairman Raja Idris Raja Kamarudin.

He said joint development plans for the 3.84ha land in the heart of Section 14, Petaling Jaya, are currently being finalised.

"The development of shop offices, small office home office (SoHo), office tower and serviced apartments will begin by year-end and contribute close to RM1 billion in gross development value (GDV) over seven years. This will build a strong foundation for the company's continuous growth," he told a press conference after KHSB's AGM.

[davidwsk]

Latitud3’s new design twist

1/10/2012


Boutique developer Urban Hallmark Properties Sdn Bhd (UHP) is looking to launch its second project, a 25-storey serviced residence called Latitud3, before the end of the year.

Located along Lorong University A off Jalan Universiti in Petaling Jaya, Latitud3 has an estimated gross development value (GDV) of RM52.5 million. It comprises 96 units of partially furnished residential studios and suites, with built-ups ranging from 653 to 853 sq ft.

Ng describes the units in Latitud3 as high-end, individualistic and signature unitsLatitud3 sits on a 0.4-acre leasehold tract and the boutique development offers a rather new design twist aimed at maximising space and comfort, UHP managing director Datuk Jeffrey Ng tells City & Country. For example, Latitud3’s versatile transformation concept for its 1+1 studio unit (653 sq ft) features efficient sliding doors/walls which converts or divides the open-plan interior layout into separate spaces — a living/kitchen area and a 350 sq ft master bedroom.

The same unit has the luxury of two bathrooms, high-gloss finish kitchen cabinets with a European-brand induction hob and cooker hood, two air conditioners and two water heaters.

Ng says the 12ft solid top kitchen with cabinets is normally used in larger units of 1,200 to 2,000 sq ft. “The kitchen is one of the more important places [in the home]. We see a global trend of the kitchen area being a place where families congregate. Some could be just sitting around making a cup of coffee, another could be on the computer. So we made an effort to come up with something more than what the industry norm gives,” says Ng.

Ng is no stranger to the property industry, having being in the business for the past 28 years. He set up UHP after a stint as managing director of Asia Pacific Land and senior executive director of the Low Yat Group. He is currently the CEO of Sunway REIT Management Sdn Bhd, the manager of Sunway Real Estate Investment Trust (Sunway REIT).

“As a boutique developer, when it comes to the convenience of the owners, these are not things we will stinge on. For instance, there will be three lifts to serve six units per level. This way, waiting time is reduced and eventually, I think buyers will also appreciate such convenience,” he adds, describing the units in Latitud3 as high-end, individualistic, signature units.

“Our design aims to be practical and functional — that is our key approach. We then go an extra level of exclusivity by providing high-end finishes and interaction that the end-user will have with the unit,” UHP project assistant and project architect Bhupinder Singh explains.

Elaborating further on the transformation concept, Bhupinder says the kitchen area doubles up as a party or entertaining area while a hidden foldaway bed in the living area can be put down when in use and folded up into the wall when a bigger space is needed. This concept is seen throughout the project. The developer is also offering a promotional package, for a limited time only, which includes a pull-down bed (excludes mattress), a washing machine and a dryer.


An artist's impression of Latitud3 showing the green facade of the car park podiumThe project’s other unique features include the Urban Park (on the ground level), its facilities area (Level 7) called Haven, and a sky park on the rooftop (Level 25). In total, the Urban Park and the whole landscaped (perimeter) area is about 4,500 to 5,000 sq ft in size, which can be seen as the lift door opens up on the ground floor.

“It gives you a very calm and soothing feeling as we also have a water body there, which marks the entrance of the whole complex,” Bhupinder adds.

The development is in the vicinity of the proposed University Malaya Health Metropolis, part of the government’s Economic Transformation Programme for the health industry, where pharmaceutical and health industries will be concentrated. It is also close to the Section 13 commercial belt.

“The Health Metropolis and Section 13 commercial belt is very exciting if we look at what is to come for the areas surrounding Latitud3. There will be an increase in population and more commerce aspects, in relation to healthcare here. The strength of the location speaks for itself and there is prospect for future growth,” says Ng.

Haven offers facilities such as a gymnasium, a pool, a BBQ deck and a reading lounge while the sky park will have a dedicated function room, as well as an indoor and outdoor activities area for private functions.

The project has some green features as well, including rainwater harvesting and energy-efficient lighting (see box).


More: http://www.theedgeproperty.com/news-...ign-twist.html

[davidwsk]

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