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Old April 7th, 2008, 10:24 AM   #221
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i think this project must have been under construction /completed ...a crane near Pos Kelana Jaya !

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Old April 15th, 2008, 05:24 AM   #222
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Fewer IJM property launches seen
By Francis Fernandez
Published: 2008/04/15

CreditSuisse expects IJM to halve the value of fresh property launches per annum

IJM Corp Bhd, the country's second biggest builder, may cut down on planned property launches due to weak demand, CreditSuisse said in a report.

The report comes barely a month after IJM managing director Datuk Krishnan Tan Boon Seng said some projects in Selangor and Penang might be delayed as new state governments take charge.

Already the Selangor state government is considering scrapping some property joint ventures where companies linked to IJM, such as Talam Corp Bhd and Kumpulan Europlus (Keuro) Bhd, have been active participants.

IJM owns a quarter of Keuro, which in turn is the single largest stakeholder, owning some 42 per cent of Talam, once the country's biggest builder of low-cost houses.

Selangor Chief Minister Tan Sri Abdul Khalid Ibrahim said last week that some of the ventures don't have terms favourable to the state.

Business Times understands that Talam has several outstanding issues with Kumpulan Darul Ehsan Bhd's listed units, and is in talks to offset some claims on land in Kuala Langat and nearby areas.

Meanwhile, CreditSuisse expects IJM to halve the value of fresh property launches per annum.

"We are comfortable with our domestic sales assumptions of between RM500 million and RM700 million worth of property launches per annum," analyst Danny Goh wrote in a report based on a meeting with IJM's management.

However, IJM will still boost its order book to RM8 billion as it is in advance negotiations for some RM1.4 billion worth of projects abroad.

Locally, it is eyeing the RM500 million National Centre Institute project and some RM500 million worth of sub-contract work to help build a double tracking line.

IJM, which has seen a steep decline in foreign ownership to 47 per cent from a peak of 64 per cent, may also sell some of its mature property assets to keep its earnings momentum.

For the year ended March 31 2007, IJM posted a net profit of RM194.3 million versus RM160.4 million in the same period a year ago.

bad news for Talam
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Old April 16th, 2008, 10:26 AM   #223
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Developer stops work on hoardings
Minderjeet Kaur

Development work on the Bukit Gasing hill slope has upset residents in the area.

KUALA LUMPUR: Gasing Meridian Sdn Bhd, the developer of Sanctuary Ridge at the Bukit Gasing hill slopes on the city side, has suspended its hoarding work at the site.

Its spokesman, Richard See, said the decision, which was relayed to City Hall, was a gesture of goodwill to the community.

"It was also in view of City Hall's concern over the pending court case. So we have asked our contractor to temporarily suspend the hoarding work until April 23."

He said on April 7, the company was informed by City Hall about the ex-parte interim injunction against the latter, issued by the High Court on April 2, that no development activities should take place on the hill slopes.

"However, the company was not named as respondent in the order, which also does not prohibit hoarding work."

See said the company had sent letters to residents to inform them about the start of hoarding work on March 24 at the site, where 142 bungalows will be built.

The company, in a separate statement, also clarified that the site, on a 15.2ha piece of land, had been privately-owned since 1899. It had never been part of the area's green lung.

It said the property had been converted and subdivided for residential use since 1977, with individual bungalow titles issued some 30 years ago.

"This is stated in the Kuala Lumpur Structure Plan 2020," said the statement, adding that the company had intensively studied the site.

"The site was independently reviewed by various government agencies, including Ikram and the Department of Environment. The findings were presented to Bukit Gasing Joint Action Committee in a meeting on May 10 last year."

Last Sunday, more than 100 residents held a peaceful protest at Gasing Indah, following City Hall's failure to stop development work at the site.

The residents had claimed that the developer had not complied with the injunction.

The housing project, just next to Taman Gasing Indah, is at the Kuala Lumpur-Petaling Jaya border. Development on the Petaling Jaya side stopped a few years ago.
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Old April 16th, 2008, 11:39 AM   #224
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Tempo Properties to launch RM500m project in Seri Kembangan
by Tim Leonard
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KUALA LUMPUR: Little-known property developer Tempo Properties Sdn Bhd is set to launch a RM500 million mixed development project in Seri Kembangan, Selangor, within the next few months.

The project, which is expected to be the largest in Seri Kembangan, is expected to span over the next five years, said Tempo Properties CEO Khoo Boo Hian at a media briefing to unveil the company’s new logo and tagline.

Khoo said the new project would comprise a unique blend of commercial and residential properties but declined to disclose further details on its features.

“We want to be seen as a young, dynamic and creative property developer in the Klang Valley and our new launch will be a testament to that,” said Khoo, who launched the company’s new tagline called “Ideas at Work.”

Established in 1995, Tempo Properties, started out in Seremban with the launch of Taman Cengal Utama comprising approximately 1,000 units of low- and medium-cost residential homes. The project with a gross development value (GDV) of RM70 million has been completed and handed over to buyers.

In 2004, the developer moved on to develop Prima Tropika in Seri Kembangan. The project comprises 600 units of two- and three- storey terrace houses with a GDV of RM165 million and is more than 95% sold. The following year it launched Medan Suria, a commercial development comprising 38 units of three-storey shop offices, in the heart of Seremban town.

The project has a GDV of RM38 million and is divided into two phases. The first was completed in December last year while the second phase will be launched by middle of this year.

Khoo said the company was in the process of increasing its landbank which currently stood at 30 hectares (75 acres) and concentrated mainly in the Klang Valley.
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Old April 16th, 2008, 06:59 PM   #225
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any idea what happen 2 dis project?[/QUOTE]

There is a new development project just started next to Ameera construction site which I believe the rendering has been posted b4 or else the Luxor's project might be the 1
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Old April 18th, 2008, 05:39 AM   #226
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Tune-ing in to properties
By Presenna Nambiar
Published: 2008/04/18

The Harbour Place in Klang will be Tune Group's first project, comprising a shopping mall and an office suite tower with a gross development value of RM420 million

TUNE Group, famous for popularising the budget business model, is going into properties.

Its first project is a shopping complex and office building in Klang, a town known for its ports that are the nation's trading gateway.

Tune Group will hold all its property business under Tune Properties, following a restructuring exercise that will be completed within a year.

"The Harbour Place in Klang will be our first project under Tune Properties. From there, we will expand into other types of properties," Datuk Kamarudin Meranun told Business Times in a phone interview recently.

Kamarudin and Datuk Tony Fernandes are the founders of Tune Group, which now owns Asia's biggest budget airline, low-cost hotel operator Tune Hotels, and financial services provider Tune Money, to name a few.

Kamarudin hinted that Tune Properties might have a more diverse portfolio.

The group will hire Tan Eng Wah, the former director of Tan & Tan Development Bhd, to run Tune Properties.

Tan has more than 25 years of experience in the property business, encompassing hotels, shopping complexes and even hospitals.

Strategically located along the main Klang highway connecting Klang town and Port Klang, Harbour Place will be positioned as a suburban shopping complex to serve the mushrooming Klang neighbourhoods.

It is targeted to open by the third or fourth quarter of this year.

Kamarudin currently holds 63 per cent of Chestar Properties Sdn Bhd, the owner, developer and operator of the project.

The entire project, which comprises a shopping mall and an office suite tower, has a gross development value of RM420 million.

Kamarudin said the whole idea would be in line with the philosophy of Tune Group, which is to offer affordable products and services to an underserved market.

He said Harbour Place is a classic example of such a venture.

"You find that there are hardly any quality shopping malls in Klang, while Kuala Lumpur is almost bursting with such complexes," Kamarudin said.

Other private initiatives under the Tune brand are Tune Talk, Tune Entertainment, Tune Games and Tune Media.

Last edited by rizalhakim; April 21st, 2008 at 05:05 AM.
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Old April 20th, 2008, 08:19 AM   #227
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Originally Posted by rizalhakim View Post
any idea on dis project? well they startd seling in singapore this week...
Advertised as service apartments from S$129,800 with a 14% immediate return! dats mean around RM300K, expensive huh!!!!

As of April 14, 2008.

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Old April 21st, 2008, 08:23 AM   #228
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Originally Posted by rizalhakim View Post
PJCC aims to emulate success of Mid Valley

Property Talk: By S.C. CHEAH

Vincent Tai Chu Shi with a model of the PJCC project

Commercial properties in prime locations have been experiencing good take up rates for the past few years.

Besides a good location, competitive pricing is also an important factor.

The PJCC (Petaling Jaya Commercial City), an upcoming integrated three-phased commercial development comprising a Retail City (shop offices and service suites), Tower City (three to four-star hotel, office tower and shopping mall), Auto City and Lake City complexes, is one such development that boasts of location and pricing as its winning assets.

Vincent Tai Chu Shi with a model of the PJCC project
It is strategically located between the Old Klang Road and New Pantai Expressway (NPE) in the booming Bandar Sunway-Subang Jaya corridor. In fact, it is in one of the fastest growing locations in Petaling Jaya.

The developer, PJCC Development Sdn Bhd is building part of a slip road from the NPE to the development. When completed in eight years, PJCC can be seen from the NPE.

As for pricing, it is 30% to 40% cheaper than similar developments and that explains why 95% of the 34 units of the 3-storey shop offices in Phase 1 had been snapped up since its initial launch this March. There are also very limited units of the 5, 6 and 8-storey shop offices left.

Phase 2 comprising of more 3, 5 and 8-storey shop offices are now opened for sale. About 47% of the 34 units of 3-storey shop offices in Phase 2 have been sold.

The selling price of the Phase 2 strata title office units starts from RM199,900 while the price for the strata title ground floor shop lot with first floor office lots is RM660,900.

The individual title 3-storey, 22ft x 70ft shop offices are priced from RM868,900 while the individual title 5-storey shop office with lift is priced at RM2.5mil. The individual title 8-storey shop office with lift is priced at RM3.9mil. Both the 5 and 8-storey shop offices are limited corner lots with 40 ft wide frontages.

All shop offices will have wide back lanes of 40 to 50ft for easy loading and unloading of goods.

It has been noticed that when a location is “hot” and is in a prime area with a big population like in Subang Jaya and Bandar Sunway, there is no let up in the demand for more shop offices. The Taipan commercial centre in USJ is a good example where ready tenants usually move in soon after the ground floor shop lot has been vacated.

In PJCC's case, the developer has done the right thing in offering more than just shop offices. In fact, it has consulted extensively with landscape specialists and consultants to design an interactive lake in its Lake City featuring musical fountains, shallow wading pools, floating decks with retail kiosks and a stage for performances.

The interactive lake with surrounding greenery will have wide pedestrian styled promenades with extensive landscaping of imported and local trees and flowering plants. The lake will also feature cantilevered sitting areas leading down to the lake for relaxation.

Lake City in Phase 3, will have a bazaar with retail lots on the ground and first floor and a 3-level car park with about 500 bays.

PJCC Development Sdn Bhd sales & marketing manager Vincent Tai Chu Shi said PJCC would “mirror and parallel” the success of the Mid Valley City, about 10 minutes drive away.

“At PJCC, we have priced our commercial offerings at almost half of the current selling price of properties in Mid Valley City. Hence, the potential for high capital gains and rental returns for PJCC properties is very optimistic as PJCC believes in allowing its purchasers to enjoy a higher margin of capital appreciation,” he said.

Tai said the service suites called PJCC Avenue (550 sq ft to 850 sq ft) and PJCC Tower (1,200 sq ft to 1,800 sq ft) under Phase 2 were now opened for registration. Both would be priced around RM220 psf. The PJCC Avenue will have studio, 1, 2, and 3-bedroom layouts and SOHO (small office home office) units.

They will have facilities such as gymnasium, business centre, swimming pool and wading pool, 24-hour security, with guards and broadband and Astro ready.

He said the proposed 3-storey shopping mall in Tower City (Phase 3) would have about 267,000 sq ft of retail space.

“We are positioning PJCC which consists of four precincts, as a one-stop commercial city. It will be one of the biggest commercial developments in Petaling Jaya,” added Tai.

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Old April 24th, 2008, 05:13 AM   #229
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Petaling Tin plans RM1b luxury villas
By Sharen Kaur
Published: 2008/04/24

PROPERTY developer Petaling Tin Bhd plans to spend some RM1 billion to build luxury villas and a boutique hotel on Karambunai Peninsular, 30km east of Kota Kinabalu in Sabah.

The company, controlled by Tan Sri Dr Chen Lip Keong who also helms Karambunai Corp Bhd (KCB), owns 524ha in Karambunai, its single biggest asset which it acquired for around RM190 million in 1998 and is now ripe for development.

Chief executive officer Leong Choong Wah said Petaling Tin will launch the first phase of the development this year.

"The villas, with large built-ups, will be an international product and we are targeting foreign buyers. KCB is building Nexus Residences Karambunai within close proximity and it will certainly boost sales and prices of new products here," Leong said at its annual general meeting in Kuala Lumpur yesterday.

Leong expects Petaling Tin's performance this year to remain flat as launches earmarked for early this year will only take place in the second half of 2008.

However, its performance is expected to improve next year.

For fiscal year ended October 31 2007, it posted a net profit of RM16.6 million on revenue of RM21.2 million.

Petaling Tin is set to launch RM100 million worth of properties in Taman Desa Bukit Indah in Sungai Buloh, Selangor and the gated Taman Kelab Ukay in Bukit Antarabangsa, Ampang, where it holds 81ha and 11ha respectively.

The company, which has net tangible assets worth RM378 million, hopes to launch 126 units of terrace houses in Sungai Buloh worth RM26 million by the third quarter of this year.

In Taman Kelab Ukay, it plans to launch 15 units of three-storey superlink homes worth RM11.3 million by June this year.

"We will be launching RM66 million worth of new properties in Taman Kelab Ukay by year-end after getting the state government's approval," said Leong.

He added that the strategy is to unlock value for a profit margin to build a new corporate office on a 0.83ha site in Section 19, Petaling Jaya, which now houses a four-storey office block with an annexed single-storey warehouse.

Petaling Tin plans to redevelop this into a high-rise Grade-A commercial office tower with minimal retail lots for more than RM100 million, and lease half the units for investment purposes.

However, this plan is pending the local authorities' decision to re-zone Section 19 and new guidelines by the Selangor state government.
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Old April 24th, 2008, 10:56 AM   #230
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Petaling Tin to launch RM37m residential properties
by Yantoultra Ngui Yichen
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PETALING JAYA: Property developer Petaling Tin Bhd will be launching the subsequent phases of its housing development projects worth RM37 million in Ulu Kelang and Sungai Buloh by the second half of this year to drive future growth.

The new phases, part of its RM120 million worth of 91-ha projects in both areas, include 15 superlink houses in Taman Kelab Ukay and 126 units of double-storey developments in Sungai Buloh, said chief executive Leong Choong Wah.

“For this year, we are cautiously optimistic but we are more confident of achieving better results next year with our projects rolling out,” he told reporters after the firm’s AGM here yesterday.

Petaling Tin, with no debt and sitting on a net cash of RM17.6 million as at Oct 31, 2007, had already sold 83 units of double-storey developments worth RM20 million in Sungai Buloh in the previous phase, he added.

Leong said the firm hoped to gain more cash by unlocking the value of its projects in Ulu Kelang and Sungai Buloh within a year to prepare itself for the development of a landmark office tower project in Petaling Jaya.

The firm was planning to build a class A office tower in that area, which was still pending the approval from the Selangor state government, he said.

The 0.82-ha site, acquired from its sister company Karambunai Corp Bhd for RM12 million last December, currently has a four-storey building and factory erected on it and is tenanted by Petaling Tin and a third party.

“We hope to build a new six-storey building, or even higher. We plan to lease out more than 40% of the new building and expect more than 8% in rental yield,” he said.

Petaling Tin, 34.26% owned by Karambunai Corp’s chief executive Tan Sri Chen Lip Keong, also owns some 551.2ha of resort land in Karambunai, Sabah, which is situated behind the beachfront land owned by Karambunai Corp.

“We are not in a rush, we will wait for the right time to unlock the value of the huge landbank there,” Leong said, adding that Petaling Tin was considering to develop the land into hillside villa projects and was open to sell some parcels of the land.

For the fiscal year ended Oct 31, 2007 (FY07), the firm returned to the black with a net income of RM16.52 million, or 4.80 sen a share on revenue of RM21.18 million versus a net loss of RM6.60 million on revenue of RM20.12 million in FY06.
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Old April 24th, 2008, 11:02 AM   #231
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BDR unit gets RM100m loan for Subang land

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KUALA LUMPUR: Bandar Raya Developments Bhd unit Impiana Impresif Sdn Bhd has secured a RM100 million term loan facility from Alliance Bank Bhd to part finance its proposed land acquisition in Subang.

In a statement yesterday, BDRB said the facility was secured by a first legal charge over the Subang land and supported by the company’s corporate guarantee for RM100 million.

Impiana Impresif had entered into a conditional sale and purchase agreement with Kee Hup Properties Sdn Bhd last Jan 11 to acquire the land for RM125.86 million cash.

BDRB had then said it planned to undertake a mixed development comprising retail, street retail, designer suites, office suites and residential apartments in several phases over seven to eight years.

The company said based on a preliminary feasibility study, the proposed development was expected to generate gross development value of about RM1.5 billion and gross development profit of about RM500 million.
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Old April 25th, 2008, 06:56 AM   #232
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Originally Posted by nazrey View Post
Centro to give Klang a facelift
The Star


IT is going to cost the Centro Properties Group about RM80mil to complete an abandoned hotel project in Klang and turn it into a modern office cum retail complex called Centro.

The company belonging to well-known property developer Datuk Teo Chiang Kok expects to reap sales of RM120mil.

The 28-storey freehold office tower over a three-storey retail podium will be the tallest building in Klang boasting a million sq ft of built-up space. It is located at Jalan Batu Tiga Lama that fronts the Federal Highway.

The Centro is being sold in modules from 490 to 23,000 sq ft for an entire floor plate and boasts 300,000 sq ft of net saleable space with 700 covered parking bays in two basement levels, and another 100 bays for surface parking.

The retail podium is scheduled for completion this November and the office tower by May 2007.

Teo has done his homework well.

The rehabilitation process is not messy, as much of the building had been completed before it was stalled and inspections showed that the structure was sound. The hotel with corporate suites was never sold.

The new positioning also seems right. Instead of selling the retail lots, Teo is keeping all of them for rental purposes and also better management control.

To woo people to the complex, Centro will have a food and beverage strip with 15 outlets in an alfresco setting. This will also meet the growing demand for higher-end outlets that is lacking in Klang.

However, it is more than the profit margin that the veteran developer is looking at.

For him it is also a win-win situation for the Klang Municipal Council, which has been very co-operative, as reviving the abandon project will boost Klang's image.

As a director of See Hoy Chan Holdings Group and Bandar Utama City Centre Sdn Bhd, Teo has been shouldering the family business for years.

Now through the Centro Properties Group, he has paved the way for his children to follow in his footsteps. His very name carries weight on the project.

Many parents, especially businessmen, always harbour hopes of having one of their children become a doctor or a professional.

Perhaps it is the family environment that encourages and moulds the interest of the children to follow in their father's footsteps.

Similarly, as a property developer I guess this somehow could have kindled my children's interest in the field of property development, he said.

What words of advice would Teo give his children (two sons and a daughter)?

Reputation has to be earned and nurtured and they must build upon it all the time. This can only be accomplished by delivering on all our promises, he said.

Teo, 59, said it was his philosophy that one could be allowed to err in judgment once, but one must learn from it and should not repeat the same mistake.

Actually, there is no rocket-science formula in running a business. Many business decisions can be made through common sense or step-by-step elimination of options. I believe in the human spirit and the tenacity one can bring forth when confronted with a problem.

There is no short cut to experience which can only be accumulated through time and making judgemental decisions and of course, mistakes along the way,~{!1~} he added.

Teo wears many hats.

He is FIABCI Malaysia president (FIABCI is the French acronym for the International Real Estate Federation), Malaysian Association for Shopping and High-rise Complex Management (PPKM) advisor and the Associated Chinese Chamber of Commerce and Industry Malaysia (ACCCIM) national council member.

He is also ACCCIM's Construction and Property Committee chairman and the Financial and Planning Committee and Asian Affairs Committee deputy chairman.

Does he plan to retire and what does he think of his work and social obligations?

I wish I can (retire). Work is not a burden so long as you enjoy what you are doing and believe in the objective.

My involvement in FIABCI, PPKM and ACCCIM are most fulfilling as these NGOs address problems and challenges facing the private sector, business conditions, the economy and our competitiveness in an increasingly globalised world, he said, adding that Centro Properties Group would embark on any viable project, be it a green field development, or rehabilitating abandoned projects.

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Old April 28th, 2008, 06:12 AM   #233
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TTDI folks appalled by development plan

TAMAN Tun Dr. Ismail (TTDI) residents who live along Jalan Burhanuddin Helmi are appalled by a new development plan for the area.

The project, a 20-storey twin tower office and apartment with three levels of basement carparks was said to have been approved by Kuala Lumpur City Hall (DBKL) and clearing works had already begun.

The site is located on the land currently occupied by Makbul Nasi Kandar restaurant. Rasta food court, which had also been on the land, has been shifted to another location in the vicinity.

Gone forever: The land where the Rasta food court once stood is being cleared for the project.

Resident Aznei Jaffni said the residents along Lorong Burhanuddin Helmi 1received a letter from DBKL in November 2007 informing them of the development plan and asking for consensus.

“We wrote a reply objecting to the plan based on several factors involving the environment, safety and traffic in the area. But we received no replies from DBKL.

“The next thing we know, the foodcourt had been shifted and they are breaking the ground, ignoring our interests as residents.

“Only residents living along Lorong Burhanuddin Helmi 1 received the letter from DBKL, those living on other nearby streets did not receive it,” Aznel said.

Another resident See Kot Yeng said the development would bring more traffic to the already congested business centre.

“It will be a high-density development with office blocks and apartments, so you can imagine the traffic flow.

“When the work starts, there will also be noise and air pollution,” he said.

Jalan Burhanuddin Helmi is a trunk road that connects motorists to Bandar Utama, the Damansara-Puchong Highway (LDP) and to other parts of TTDI.

It is sandwiched between a business district and a housing area.

Segambut MP Lim Lip Eng said he would bring the matter to DBKL and work with the residents to resolve the matter.

any rendering for this project??
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Old April 29th, 2008, 05:03 AM   #234
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TTDI Harta wins estate award

PETALING JAYA: TTDI Harta Sdn Bhd, a subsidiary of Naza TTDI, won the Cityscape Asia Real Estate Awards 2008 under the Future Commercial Development category for its Laman Seri Business Park, Shah Alam.

The awards ceremony in Singapore was attended by over 300 industry leaders and was held in conjunction with the Cityscape Asia exhibition at the Suntec Conference and Exhibition Centre from April 15 to 17.

A panel of international judges rated each project on its contribution to world architecture, culture invention and imagination, respect for the people and environmental awareness and appropriateness in the emerging and recently developing countries in the Asian region with winners recognised in 12 categories.

TTDI group managing director Datuk Johan Ariffin said the award testified to TTDI’s goal of making the business park the best commercial development in Shah Alam.

The 8.245-acre Laman Seri Business Park has six blocks of four- and five-storey shop offices that will feature modern contemporary façade, dual frontage and wide pedestrian walkways. There are 900 parking bays at basement and surface level.

There will also be a 37,000 sq ft central events piazza for alfresco dining and water features such as ponds, a creek and synchronised water fountains with fibre optic lighting.

To date, more than 30% of the 46 units had been sold.

The expected yields are around 8.3% per annum or RM18,000 per month for a four-storey shop office. Each strata floor is priced from RM403,000.
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Old May 5th, 2008, 08:39 AM   #235
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RM2b launch of Bandar Kinrara’s last phase
By Sharen Kaur
Published: 2008/05/05

The new developments in Bandar Kinrara as well as Alam Impian in Shah Alam and Alam Sari in Bangi will boost Island & Peninsular’s outlook with their product variety

ISLAND & Peninsular Bhd (I&P) will launch the last phase of its 770ha Bandar Kinrara township project in Puchong, building a commercial hub and a residential enclave worth more than RM2 billion.

The two developments will cover 203ha, being the last plot of land at the township, group managing director Datuk Jamaludin Osman said in an interview with Business Times.

“We will use 470 acres (about 190ha) to build semi-detached homes, bungalows and terrace houses, which we will release into the market in phases over six to seven years,” he added.

“The commercial hub will be an icon in the township, enhancing its value completely.”

I&P has 5,670ha in the Klang Valley, Selangor and Negri Sembilan, some of which has existing developments worth RM9.5 billion.

Jamaludin said the company is projecting earnings to grow this year, helped by new product offerings.

It is targeting net profit of RM225 million on the back of revenue of RM900 million for the year ending January 31 2009.

Last year, it posted net profit of RM222 million on revenue of RM774 million.

“The earnings will depend on market forces. We are on track, but will have to look at market sentiments in the second half of the year.

“We are hopeful, looking at our existing projects and new launches coming up.” Jamaludin said the new developments in Bandar Kinrara, as well as Alam Impian in Shah Alam and Alam Sari in Bangi, will boost I&P’s outlook with their product variety.

Alam Impian is a 4,860ha township, launched in December 2006, offering 11,000 semidetached homes, bungalows and terrace houses. It will be developed over the next 15 years and is worth RM4 billion.

Aman Sari, which was launched in November last year, will offer 3,500 semi-detached homes, bungalows and terrace houses on 176ha. I&P is expecting sales of RM1 billion from the development, which will go on for the next seven years.

Jamaludin said that two other projects, which will supplement the ongoing developments, are the 203ha Bayuemas in the Klang Valley and the 770ha Kota Seriemas in Nilai, Negri Sembilan.

Bayuemas will offer 2,700 semi-detached homes, bungalows and terrace houses worth RM1.4 bil-lion. It will be completed over 12 years.

Kota Seriemas will offer 18,000 houses worth RM2.7 billion. The project began in 2000 and will last for the next 15 years.

"In Kota Seriemas, we are building a nine-hole golf course, chalets and a clubhouse. We reckon it will enhance the value of the township.

"We will continue to offer a good lifestyle for residents at all of our townships," Jamaludin said.

"We are quite positive of sales from all our projects and will continue to launch new phases," he added.
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Old May 5th, 2008, 08:56 AM   #236
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IOI Properties in for steady flow of earnings
IOI Properties Bhd will be able to reap good earnings from several high-value commercial and residential projects in Puchong, Kuala Lumpur, Penang and Singapore over the next two to three years.

The main board-listed company is also building up its property investment portfolio with the launch of the Puchong Financial Corporate Centre and the expansion of the IOI Mall in Puchong.

According to IOI Properties executive director Datuk Lee Yeow Chor, the company has set out to capitalise on the high value of its two townships, Bandar Puchong Jaya and Bandar Puteri Puchong, and has lined up a number of interesting commercial projects that will further spruce up these addresses.

As Puchong still lacked Grade A office buildings, IOI Properties will be building the Puchong Financial Corporate Centre (PFCC) that will showcase five blocks of Grade A office buildings in Bandar Puteri Puchong.

Construction work for the first two blocks has started and is expected to be completed by the first quarter of 2009. Work on the other three blocks will start early next year and the buildings will be ready by 2011.

“If the offer is right, we may consider selling one of the blocks in PFCC on an en bloc basis to a corporate or institutional buyer.

“IOI Properties will keep the remaining four blocks for long-term lease by corporations on condition that the space leased should be at least 25,000 to 40,000 sq ft,” Lee told StarBiz.

At an estimated rental rates of between RM3.80 and RM4.60 per sq ft for the office space and RM7 per sq ft for the retail space, total rental income expected from the first two blocks was some RM23mil, he said.

An artist's impression of IOI Boulevard in Pulau Bandar Puchong.

“These are futuristic and iconic office buildings that will elevate the office property landscape in Puchong. The project's location along the Damansara-Puchong Expressway gives the buildings very good frontage,” he added.

The ongoing extension of the IOI Mall costing RM70mil will add 300,000 sq ft of net lettable space to the existing 670,000-sq-ft mall.

He said the new wing, scheduled for completion by the end of this year, would raise the annual rental income from the shopping mall to RM50mil from RM37mil now.

New lifestyle hub

In the 930-acre Bandar Puchong Jaya, a new lifestyle business-cum-entertainment hub called IOI Boulevard will be built on the last piece of commercial land totalling six acres.

The RM330mil project will comprise 60 shop offices of five, six and eight storeys with average built-up areas of 11,050 to 17,680 sq ft.

The 60 retail lots on the ground floor will be priced from RM600 to RM650 per sq ft while the offices that are occupying the upper floors will be from RM300 to RMM350 per sq ft.

There are also eight corner blocks of eight storeys each offering space of 45,000 sq ft a block. They are priced around RM17mil each.

“The focal point of IOI Boulevard will be the glass canopy-covered centre courtyard called Fusion that will be a covered street with lush landscaping and water features, complete with alfresco sidewalk cafes,” Lee said.

Each of the shop offices will be equipped with a private lift.

On the residential property front, IOI Properties is moving into luxury condominium developments in Kuala Lumpur with its maiden project, The Verandas Condominiums in Jalan Ampang. Work will start by year-end, to be completed in two years.

The 16-storey condominium block on 3.8 acres will have 152 residences, including 10 penthouses. The intermediate units are from 2,200 to 2,700 sq ft while the penthouses will be from 3,300 to 4,200 sq ft.

“The residences will be designed in a single banked layout with all units having a direct view of the Kuala Lumpur City Centre. There will be large landscaped areas with multiple pools and an elevated clubhouse,” Lee said.

In Penang, IOI Properties' parent IOI Corp Bhd will be developing a four-acre site in Tanjong Tokong, Penang, into a 35-storey condominium block.

Fettes Residence will comprise 191 condominiums with average built-up of 1,800 to 2,000 sq ft that will be priced from RM380 per sq ft. There are also four penthouses of 4,000 sq ft. Most of the condominium units have sea views.

Lee said IOI Properties also had three ongoing township projects in Kulai and Segamat in Johor, and was planning to launch a 250-acre project in Kempas.
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Old May 7th, 2008, 05:12 AM   #237
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Metro plans RM1.5bil Kajang 2

KAJANG: Metro Kajang Holdings Bhd will embark on a RM1.5bil high-end gated and guarded development on its newly acquired 272-acre freehold land here.

To be launched next March, the project will be developed over eight years. It will have 3,500 bungalows, semi-detached houses and three-storey super link homes, apartments, commercial units and private schools.

Metro Kajang has announced to Bursa Malaysia on Monday the acquisition of 96% undivided share in 12 parcels of land in Hulu Langat by subsidiary Srijang Kemajuan Sdn Bhd for RM77.9mil cash.

Another wholly-owned subsidiary Intra Tegas (M) Sdn Bhd holds the remaining 4% undivided share of the land that was bought for about RM2mil more than five years ago.

The land, 2.5km from Kajang town centre and easily accessible via the SILK Highway and Jalan Reko, is bordered by matured housing estates and is partly planted with rubber trees.

Executive chairman Datuk Alex Chen Kooi Chiew told StarBiz Metro Kajang had been eyeing the land for more than 10 years.

However, it was only now that the company was able to complete the entire deal with the parcel owners, he said.

“This land is probably the biggest single piece so near to the town centre. We feel it is worthwhile to buy no matter the amount of efforts and hardship we have to endure as long as it benefits our shareholders,” he added.

Chen said the development would be tentatively called Kajang 2 but the name might later be changed. It would have a gross development value of RM1.5bil.

“We want to develop it into an integrated and self-contained township. Our first launch would be semi-detached houses, bungalows and super link homes,” he said.

On the recent acquisition of 15,942ha land in Kalimantan for RM24mil in January, Chen said based on its survey, the land was suitable for oil palm planting and harvesting.

“We have completed planting on 1,800ha. The plantation is intended to provide long-term earnings for Metro Kajang,” he added.
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Old May 7th, 2008, 06:03 AM   #238
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PKNS offers over a 1,000 units at rock-bottom prices

MORE than a 1,000 properties are up for grabs at rock-bottom prices at various parts of Selangor, including the state capital Shah Alam and the prime property hotspot Kota Damansara.

The Selangor State Development Corporation (PKNS) has announced that the Jualan Hartanah Mampu Milik PKNS 2008 (PKNS Affordable Properties Sale 2008) will take place from this Friday to May 18.

Big promotions: Md Nasir showing a poster for the sale of properties.

A total of 1,173 residential units, 53 bungalows, 25 shoplots and 206 industrial land lots are on offer at bargain prices.

On top of the discounted prices, buyers will also get incentives for each property bought.

A 10% discount will be given to buyers of factory buildings in Rawang and Air Manis, Sabak Bernam.

All other buyers will be given free air-conditioners, LCD television sets and electrical appliance vouchers, depending on the price of the properties.

According to PKNS deputy general manger (administration and development) Md Nasir Md Arshad, the sale is intended to give the public an opportunity to own their dream homes at an affordable price.

“PKNS properties are always priced at 7% to 10% less than other properties on the market,” Nasir said.

This time around, the sale will encompass properties in Shah Alam, Kota Damansara, Antara Gapi, Kota Puteri, Bernam Jaya, Bandar Baru Bangi, Kuala Selangor and Bandar Sultan Suleiman in Port Klang.

Almost all these projects have been completed.

“PKNS is also offering a payment facility where buyers only need to pay a RM500 down payment before commencing on a loan scheme being offered to qualified buyers,” Nasir said.

“The facility is a confidence boost for buyers of PKNS properties.

“The buyers can also pick strategic locations, including the upmarket hot spots like the new eight-storey apartment block in Section 10 at Kota Damansara, which is priced from RM180,000 onwards,” he said.

The new apartment block is equipped with a swimming pool, a badminton court and sports area.

It is strategically located in the vicinity of Petaling Jaya and is linked to highways, including the Damansara-Puchong Highway and MRR 2.

In Shah Alam, PKNS is offering 167 apartments at RM145,000 each in Section 24, a strategically located residential area with many nearby facilities like schools, clinics, 24-hour restaurants, car workshops and the Giant, Mydin and Ole Ole supermarkets.

“The lowest priced apartment is RM59,000 for the five-storey apartment in Bandar Sultan Suleiman,” Nasir said.

He said PKNS decided to hold another special sale this year as the response to the previous one was overwhelming with buyers snapping up all the properties because of the competitive prices, strategic locations and other attractive facilities.

“We have started using the tagline ‘Living with PKNS’ that is representative of the buyers’ confidence in our properties.

“It represents 150,000 PKNS property owners who have bought and continue to grow with our new properties,” Nasir said.

The properties sale will be held at the PKNS Complex in Shah Alam as well as at all PKNS sales gallery in the state.
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Old May 9th, 2008, 10:36 AM   #239
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PKNS Homes at up to 10pc off
Halim Said

SHAH ALAM: If you are planning to buy a new house, don't miss the Selangor Development Corporation (PKNS) Home Property Fair 2008, which kicks off today.

For you will be spoilt for choice as the 10-day fair, which ends on May 18, showcases a total of 1,173 residential units, 53 bungalows, 25 shop lots and 206 industrial lots, with a total value of RM180 million.

The fair, themed Living With PKNS, is held at Kompleks PKNS here.

Among the highlights are housing projects in Kota Damansara, Shah Alam, Antara Gapi, Kota Puteri, Bernam Jaya, Bandar Baru Bangi, Kuala Selangor and Bandar Sultan Suleiman in Port Klang.

Some of the projects are already completed.

PKNS deputy managing director Md Nasir Md Arshad said the public, especially those planning to but their first property, should pay a visit to the fair.

"We are offering the properties at between seven and 10 per cent cheaper than the market price. Although they are cheaper, PKNS do not compromise on the quality. So, visitors can expect a good bargain at the fair," he said.

He said among the hottest properties on offer is the eight-storey apartment block in Section 10, Kota Damansara, which is priced at RM180,000 a unit.

"The scheme is equipped with facilities such as a swimming pool, a badminton hall and recreational area," he said.

Md Nasir said those who were looking for properties in Shah Alam should check out PKNS apartments in Section 24, priced at RM145,000 a unit.

"The scheme has 167 units and the price is affordable," he said.

He said the cheapest property offered was five-storey apartment in Bandar Sultan Suleiman in Port Klang, at only RM59,000 a unit.

"We are also offering a 10 per cent discount for our single-storey factories in Rawang and Air Manis in Sabak Bernam," he said.

Md Nasir also revealed that buyers would be given vouchers for electrical items according to their purchases.

For more information, contact 03-79555945 or visit www.pkns.gov.my.
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Old May 12th, 2008, 06:14 AM   #240
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Sky garden concept for 1 Sentul

Meanwhile, the company plans to launch an RM150mil service apartment cum commercial project called Tree Lodge in SS3, Petaling Jaya late this year. It will have a unique “sky garden” concept where every third floor will have a “green” area.

The units with sizes of about 500 sq ft to 1,300 sq ft will be priced from RM300 to RM330 per sq ft. There will be retail lots on the first two floors.

Its proposed 50-acre leasehold, U10 high-end gated and guarded community project next to Bukit Jelutong in Shah Alam might be launched in three years' time.

The company has been in the property development business since 1994. It has done seven to eight projects and completed over 1,000 mixed housing units.
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