THE ELEMENTS @ AMPANG | Kuala Lumpur ( off Jalan Ampang ) | 2X 42F | U/C

[dean_prozen]

Some photos taken from the sales gallery

[rizalhakim]

Originally Posted by dean_prozen

The Element is having a pre-launch, offering 2% + 10% from wednesday until friday
Official launch on this coming saturday..

Majority of good units have been sold out ( or reserved i personally think), a lot of 604 sq ft units still available.

The show room is located on your left hand side after 800meter away from Great Eastern mall on your right..

Buy Buy Buy

[rizalhakim]

The revival of Land & General
By Siow Chen Ming of theedgemalaysia.com
Monday, 18 April 2011 17:00



KUALA LUMPUR: When Hong Kong-based property tycoon Tan Sri David Chiu emerged as a substantial shareholder in Land & General Bhd (L&G) in August 2007, there was speculation of a possible asset injection or takeover exercise. It pushed the stock from 20 sen to over 80 sen in six months, but there was no asset injection.

Instead, the new management spent the last few years quietly cleaning house and strengthening the foundations of the company.

Now, after a few years in a lull and with L&G's stock price at undemanding valuation of 44 sen, things are looking up for the company with projects worth RM2.41 billion in gross development value (GDV) in its pipeline.

"With a pipeline of good projects in the implementation stage, we now have the growth momentum, and stronger numbers shall appear in FY13 (ending March 31) and from then on," said managing director Low Gay Teck in an interview with The Edge Financial Daily.

Low was excited over the brisk sales of L&G's latest project — Phase 1 of The Elements@Ampang luxury condominium project in Ampang was 60% sold in two weeks for a sales value or GDV of RM200 million. He also pointed out what is going to be the major, lucrative development for L&G going forward — its remaining 43 acres (17.2ha) of freehold development land in Sri Damansara, the jewel in the crown.

Note that while the Sri Damansara area is fast catching up in value due to its proximity to Mutiara Damansara, L&G's net book value (NBV) for the land is carried at less than RM20 per sq ft, according to Low. In comparison, freehold commercial land in Mutiara Damansara is now valued at more than RM400 psf, observers said.

Although Mutiara Damansara is considered a prime area compared to Sri Damansara, the low carrying cost of L&G's Sri Damansara land at less than RM20 psf is difficult to ignore.

The low land cost could translate into fat margins for L&G, much higher than the standard "20-over percent" margin for an ongoing project such as The Elements@Ampang (or for projects where land was acquired two or three years ago), said Low.

Completed service apartments or condominiums in Mutiara Damansara are now being sold for more than RM600 to RM700 psf, while in Sri Damansara developers such as TA Global Bhd are now trying to price their new units at more than RM400 psf or even RM600 psf.

Low said L&G plans to develop only half the 43 acres in Sri Damansara into high-rise residential units while retaining the rest for greenery and parks.

Still, with the first phase launch price of more than RM400 psf for built-up units, he expected the Sri Damansara landbank to generate more than RM1.5 billion in total GDV over its nine-year development period, which will be broken into three phases.

"Phase 1 of the Sri Damansara project will be launched later this year, comprising 928 units of luxury condominiums with built-ups of 1,200 to 1,600 sq ft. We are looking at a selling price of more than RM400 psf," said Low.

Investors had largely neglected L&G despite the recent rally in property stocks. At its closing price of 44 sen last Friday, the company has a market value of RM263.3 million. Note that L&G had no borrowings and had cash of RM141.4 million as at Dec 31, 2010, with shareholders' funds of RM248.2 million.

"We prefer to build up the business before we engage with the analysts and fund managers," said Low, who described himself as an engineer due to his civil engineering background rather than a "finance guy".

But while the stock has yet to stir investor interest, the company has gained the confidence of house buyers. L&G was mired in financial difficulties a few years ago before the new management came in and launched The Elements@Ampang.

"We actually started the piling works (for The Elements@Ampang) in December last year, before we launched the project. We want to make sure that we can complete the project ahead of its three-year schedule," said Low.

Phases 1 and 2 of The Elements@Ampang have a combined GDV of RM700 million. It is a joint-venture development between L&G and the Mayland Group, a vehicle of Chiu that owns a 16.94% stake in L&G. The launch of Phase 2 (Block B) is scheduled for the later part of this year.

Low remains undaunted by the better-known Mah Sing Group Bhd's upcoming launch of the "M-City" service-apartment /commercial project close to The Elements@Ampang. He said the two projects offer different products catering for different groups of buyers, although the selling price is within the same range.

"[M-City] is more commercial, ours is residential. There is synergy with our project because our residents can walk to the commercial centre, it is just two minutes away," said Low.

He said L&G's unbilled sales are currently about RM45 million, arising from the 8trium@Sri Damansara project which only has 10% of construction works to be completed. But this unbilled sales figure excluded its 50% share of the RM200 million GDV sold in the phase 1 of The Elements@Ampang.

Meanwhile, Low said L&G, with a cash position of RM141.1 million, is scouting for more landbank. Negotiations are ongoing and he expects more land deals to be concluded in the next few months.

Just last week, L&G had concluded the acquisition of 200 acres (80ha) of bungalow plots and a 27-hole golf course in Seremban for RM25 million. A project with a total GDV of RM555 million is planned for this tract, to be launched next year.

"With The Elements@Ampang, Sri Damansara Phase 1 and the Seremban project, we expect higher billings to kick in in FY13 (ending March 31). These projects would generate strong cash flow and beef up our reserves to undertake more bigger-scale projects," he said.

Low, who also sits on the board of Mayland, declined to comment on whether Mayland, which currently owns 16.94% equity interest in L&G, would increase its stake. He said there could be more JV developments with Mayland and did not exclude the possibility of a possible asset injection by Mayland in the future. Note that the land for The Elements@Ampang project, which is a JV between L&G and Mayland, was acquired from a third party.

Certainly, L&G has come a long way since the Chiu family, via Mayland, bought a stake and rejuvenated the once ailing developer. Judging by the pipeline of projects in place, especially its landbank in Sri Damansara, the prospects look bright for L&G.

[patchay]

any update??

[dengilo]

Not sure if they completed the foundation work, site looks like nothing is happening.This is the one behind MCity?

[Moi Moi]

they said they have completed for piling works but i visited their site too on last week. it seems like an abandon project. you can see M-city is quite happening, a lot of lorries in & out but elements got one lorry only...

[rizalhakim]

old proposal

[davidwsk]

By Johnni Wong | February 17, 2012
RM375,000 luxury condos in Ampang
The Elements @ Ampang


Some 60 studio units of The Elements @ Ampang condominium development with a built-up space of 48.3sq m (520sq ft) each, will be offered for sale tomorrow from RM375,000.

Launched last April, the project is joint-venture development between Mayland Group and Land & General Bhd via Elite Forward Sdn Bhd. The new compact units are part of the latest sales campaign.

Sited on one hectare (2 ½ acres) of freehold land, the development comprises a total of 1,040 condo units in two separate towers, A and B. The average price per square foot is RM750.




According to Land & General sales and marketing head Lim Kok Yee, the development is sited behind the Flamingo Hotel and will be ready by 2014.

“Initially, we offered eight layout designs ranging from 640sq ft to 1,570sq ft (59.5sq m to 145.9sq m). But we found that most buyers preferred the larger units such as those from 850sq ft (79sq m) to the largest. They have all been sold,” Lim tells StarProperty.my.

“We have reconfigured our 640sq ft units in Tower A to become 520sq ft studio units. The reconfigured extra space will be added to the adjoining units to become larger two-bedroom units.

“We are offering our cheapest unit at RM375,000 which is a very good deal in a prime area like Ampang.”

The condo units - which come with a relatively spacious balcony each - face either the KL city skyline or Ampang. All units are finished with marble, timber and tile. They are also fitted with air-conditioners and sanitary ware as well as hob, hood and kitchen cabinets.



http://www.starproperty.my/PropertyG...ance/19119/0/0

[patchay]

I always wonder why M City is selling so well... but this one is like not able to sell...

[davidwsk]

I think the concept of M-City is more appealing.

[rizalhakim]

Managing director Low Gay Teck said that for the months of February and March 2012, 100 units of Elements@Ampang had been booked and sold. The project has a total of 1,040 units and is currently selling for RM850 per sq ft. The bookings and sales for February and March 2012 have amounted to about RM60mil.

http://biz.thestar.com.my/news/story...4&sec=business

[dengilo]

Originally Posted by patchay

I always wonder why M City is selling so well... but this one is like not able to sell...

Pat may be locationlah this one is actually facing the elevated highway!

[UjaiDidida]

Haah design macam ni la yg org nak tgk..banyak design penuh concrete facade jer
this time we have some glassy condo

[dengilo]

Wrong Thread !Sorry guys

[dengilo]

[IMG][/IMG]
Just imagine if u had bought a unit ha!How long has it been?

[rizalhakim]

Originally Posted by dengilo

[IMG][/IMG]
[IMG][/IMG]
Today

ini D'Rapportlah....

[dengilo]

Opochot!Please delete the photos for me please TQ

[rizalhakim]

On the other side of the city, The Elements@Ampang is already enjoying 70% take-up rates for the two blocks of 42-storey service apartments. Based on a projected GDV of RM700 million, the project's total sales to-date is about RM490 million, which is already more than its gross development cost of RM460 million.

However, these sales figures will only be recognised according to the physical completion of the project itself, which will be stretched over two years, said Low.

http://www.theedgeproperty.com/news-...-rm1b-gdv.html

[dengilo]

[IMG][/IMG]

[davidwsk]

good progress..!