SELANGOR LIST OF UNDER-CONSTRUCTION | General Thread

[alsen]

Originally Posted by nazrey

Menara LYL, Jalan 51A/223, Petaling Jaya




Sleekly enhancing the skyline in one of Petaling Jaya’s most prestigious precincts is Menara LYL. This 9½-level building is a benchmark of commercial excellence with its strategic location, comprehensive infrastructure and quality finishing.

Developed by LYL Capital Sdn Bhd, Menara LYL is situated in the midst of thriving Petaling Jaya. It enjoys a much-vaunted mix of respected traditional establishments in banking, commercial and public services, as well as exciting new enterprises in retail, hospitality, healthcare, entertainment and lifestyle.

Location

Menara LYL sits on a land area of approximately two acres and is located at Jalan 223 of Section 51A, Petaling Jaya. It is excellently placed in one of Petaling Jaya’s most vibrant and energetic enclaves.

Prominent landmarks in the building’s immediate vicinity include the Petaling Jaya Hilton Hotel, Hongkong Bank, Maybank, Armada Hotel, Crystal Plaza, Menara Axis, Tun Hussein Onn Eye Hospital, Wisma MCIS Zurich, University Hospital, Stamford College and Menara PKNS and the premises of the Naza Motor Group Showroom (One of the top prominent showroom in Malaysia).

In terms of distance, Menara LYL is approximately 6km south-west of the Kuala Lumpur city centre. It is 15 km from the Shah Alam, 35 km from Kuala Lumpur International Airport and 30 km from Westport & Northport.

nicely designed + perfect location.

[nazrey]

by ariffjrs

[nazrey]

along jalan tun abdul razak
condos, office, condos
by ariffjrs

[nazrey]

15-08-2007: Dijaya’s earnings set for a major boost
THEEDGEDAILY

Last Friday, we took a look at Dijaya Corp (RM1.40) and the value of its underlying assets. Dijaya is an undervalued property stock, trading well below its understated book value of RM2.16, as well as our estimated revised net asset value of RM4.09 per share. Today, we take a look at some of the company’s ongoing and planned projects, and its earnings outlook.

Dijaya’s ongoing & new projects are:

Tropicana Golf & Country Resort, Petaling Jaya
At Tropicana, the ongoing Casa Tropicana project comprises about 1,217 condominium units, of which around 80% have been sold. The Merchant Square five-storey shop offices launched in 2005 are fully sold and have been completed.

Future plans include Tropicana Grande — a seven-acre development of 342 condominiums with a large built-up space of 2,500-4,500 sq ft, priced at RM350-RM400 psf.

This will be launched by the end of 2007, with a gross development value (GDV) of around RM380 million. After that, the company plans to launch a lifestyle commercial project on the remaining 13 acres of commercial land.

Tropicana City, Petaling Jaya
Situated on 9.1 acres at the crossroads of the LDP and Sprint highways in SS2, the RM600 million Tropicana City project will be fully completed in 2009.

Tropicana City comprises the 601-unit Tropics Designer Suites (launched in Sept 2006, about 55% sold) a four-storey shopping mall with 390,000 sq ft of lettable space for rent and anchored by Carrefour and a 12-storey office tower with 102,000 sq ft of net lettable space to be sold en-bloc.

The shopping mall and office will be completed in the third quarter of 2008, and the Tropics Suites in 2009. Another apartment block, Casa Damansara 3, will be launched later, likely in 2008.

In adjoining Damansara Intan, 210 units of “Casa Suites” apartments are under construction, and are fully sold out since they were launched in 2005.

Damansara Indah, Petaling Jaya
Following on the success of the fully-sold-out and completed Casa Indah 1 condominiums, Dijaya launched Casa Indah 2 in early 2007, with 352 condominium units and a total gross development value of RM105 million.

Casa Indah comprises two high-rise and two low-rise blocks. The first high-rise block is 80% sold, while the second block, launched two-three months back, is 30% sold. The company will be launching the low-rise CondoVillas component soon, priced at around RM280 psf.

Also on sale in Damansara Indah are 86 units of three-storey super-sized semi-detached homes known as Villa Green, priced from RM1.8 million with a built-up space of around 6,200 sq ft and land area of under 5,000 sq ft. These villas are around 50% sold, despite their high price tag.

Future plans include a 14-acre commercial development fronting a lake, with 500 serviced apartments and retail space, expected to be launched in 2008.

Sungei Besi, Kuala Lumpur
The company is developing Fortune Park, comprising two 22-storey apartment blocks on 24 acres. Since the launch last year, sales have hit 60%. The group is also planning medium and low-cost apartments as well as four-storey shop offices on the land.

Hyderabad, India
Last November, Dijaya ventured overseas and signed a joint venture to develop a 25.4acre, RM800 million residential-cum-commercial project. It has an effective 54% stake in the project, where risks are low as the land is supplied by the Indian landowner-partner, Telangana Spinning & Weaving Mills Ltd.

This venture will also provide a platform for Dijaya to expand into other parts of India, as well as other countries, such as Vietnam where the company is exploring opportunities.

Earnings outlook
For the financial year ended Dec 2006, Dijaya’s net profit rose 39% to RM40.5 million, or 15.6 sen per share, on the back of revenue of RM180.3 million. This translates into a trailing price-earnings (P/E) of nine times.

We expect moderate net earnings growth of 12% to RM45.4 million, or 17.5 sen per share, in 2007, underpinned by about RM217 million worth of unbilled sales, sales of unsold units at ongoing projects and the completion of several existing projects.

This places its P/E at a very undemanding eight times — or about half of the sector’s average.

However, earnings growth will accelerate sharply in 2008-09, spurred by several catalysts:

• Maiden contributions from the Indian project (its share of profits is expected at RM10-15 million in 2008, and about RM20-22 million per year for the next four-five years);

• Sales from the Tropicana Grande condominiums, to be launched in late 2007 with a GDV of RM380 million (twice 2006 revenue);

• Sale of the office tower in Tropicana City, with expected profit of around RM20 million; and

• From 2009 onwards, recurring rental income from Tropicana Mall, which should provide pretax profits of around RM25 million annually.

Indeed, 2008 is shaping out to be a busy year. After the scheduled launch of Tropicana Grande at end-2007, the company will also be launching the third apartment block at Tropicana City (Casa Damansara 3) and the two commercial projects at Tropicana and Damansara Indah, which we have not included in our forecasts yet, as details are still sketchy.

In 2009, Dijaya will start enjoying recurring income stream from its shopping mall, plus one-off profits from the sale of the tower block at Tropicana City. If the building is sold for RM400 psf, the potential profit is about RM200 psf or RM20 million.

We expect Dijaya’s net profit to rise 51.7% to RM68.8 million in 2008 and 20.3% to RM82.8 million in 2009. With 2008-09 earning per share of 26.5 sen and 31.9 sen, respectively, Dijaya’s shares are potentially trading at very low P/Es of 5.3 and 4.4 times 2008-09 earnings, and just 0.5 time book value by end-2009.

Note: This report is brought to you by Asia Analytica Sdn Bhd, a licensed investment adviser. Please exercise your own judgment or seek professional advice for your specific investment needs. We are not responsible for your investment decisions. Our shareholders, directors and employees may have positions in any of the stocks mentioned.

[allurban]

Originally Posted by alsen

nicely designed + perfect location.

isnt the roof a little ... um, weird-looking?

Cheers, m

[nazrey]

Selangor Tidak Perlu Koridor Ekonomi Baru - Khairy
August 05, 2007 16:43 PM

KLANG, 5 Ogos (Bernama) -- Pemuda Umno yakin dengan kepimpinannya yang ada hari ini, Selangor tidak memerlukan koridor atau wilayah pembangunan ekonomi baru seperti yang diwujudkan di Utara dan Selatan negara.

Naib Ketua Pemuda Umno Malaysia Khairy Jamaludin berkata ini kerana Selangor sudah mencapai tahap kemajuan yang membanggakan dalam bidang ekonomi dan tumpuan sekarang perlu diberikan kepada usaha untuk meningkatkan pembangunan mental dan modal insan.

"Selangor tak banyak masalah dalam pembangunan fizikal atau ekonomi tetapi kini mempunyai cabaran lain iaitu bagaimana untuk memajukan modal insan ataupun menangani isu alam sekitar.

"Saya rasa kita tak perlupun wujudkan lagi satu wilayah pembangunan ekonomi," katanya ketika berucap merasmikan Mesyuarat Perwakilan Pemuda Umno Bahagian Kapar di sini.

Katanya pengwujudan wilayah pembangunan ekonomi Utara dan Selatan itu adalah untuk mengimbangi pembangunan ekonomi dalam negara.

Seterusnya, ini membuka peluang kepada orang Melayu untuk maju dan Pemuda Umno akan terus menyokong usaha memperkukuh kecemerlangan yang sedia ada, kata Khairy.

-- BERNAMA

[nazrey]

Selangor Does Not Need New Economic Corridor - Khairy
August 05, 2007 16:27 PM

KLANG, Aug 5 (Bernama) -- With strong economic growth, Selangor does not need a new economic development corridor like the ones in the northern and southern peninsular, said Umno Youth vice-head Khairy Jamaludin.

He said since Selangor had made tremendous economic development, attention should now be focused on mental and human capital development.

"Selangor doesn't have much problems in physical and economic development but it faces other challenges such as how to develop its human capital and address the environmental issues.

"I feel that we don't have to create another economic development corridor," he told reporters after opening the Kapar Umno Youth delegates conference here today.

The creation of the northern and southern economic corridors were aimed at balancing the country's economic development, he said, adding that it would also create opportunities to the Malays to reap the benefits.

-- BERNAMA

[baqthier]

Taken recently

[haze]

Originally Posted by nazrey

Selangor Does Not Need New Economic Corridor - Khairy
August 05, 2007 16:27 PM

KLANG, Aug 5 (Bernama) -- With strong economic growth, Selangor does not need a new economic development corridor like the ones in the northern and southern peninsular, said Umno Youth vice-head Khairy Jamaludin.

He said since Selangor had made tremendous economic development, attention should now be focused on mental and human capital development.

"Selangor doesn't have much problems in physical and economic development but it faces other challenges such as how to develop its human capital and address the environmental issues.

"I feel that we don't have to create another economic development corridor," he told reporters after opening the Kapar Umno Youth delegates conference here today.

The creation of the northern and southern economic corridors were aimed at balancing the country's economic development, he said, adding that it would also create opportunities to the Malays to reap the benefits.

-- BERNAMA

Selangor really need Klang Valley 2 la.

[nazrey]

Better quality malls drawing more global fashion brands
Monday September 10, 2007
By ANGIE NG
TheStar


A WIDE range of shopping malls – from prime malls in the city centre to niche shopping complexes in suburban areas – has spiced up the country's retail landscape.

Each of these retail properties caters to the growing population and changing lifestyles in the various localities.

The last decade saw a rapid growth of shopping centres in Malaysia, and there are now more than 200 shopping centres in the country with several new developments in the pipeline.

In the Klang Valley, upcoming new shopping centres include The Pavilion KL, Jusco in Bukit Tinggi, USJ Eighteen in Subang, NZX Shopping Centre in Ara Damansara, and Tropicana Mall in Damansara. In Penang, Queensbay and Sunway Carnival have just opened and Jusco at Perda is scheduled to open soon.

The trend has also caught on in East Malaysia, with several big shopping centres being developed there.

Besides new shopping centres, several established malls are under expansion, including Sunway Pyramid, Suria KLCC and Mid Valley.

Sunway City Bhd managing director (property investment) Ngeow Voon Yean said the availability of better quality retail space in Greater Kuala Lumpur had encouraged the entry of new fashion brands.

They include Robinsons, The Gap, Massimo Dutti, Ted Baker, Pull & Bear, Promod, Springfield, Colin’s & Loft, Roots, Okaidi, Obaibi, Forever 21 and Banana Republic.

It has also spurred departmental store players like Parkson to upgrade its outlets in Sunway Pyramid and Suria KLCC to move up the value chain of retail shopping.

“The quality of retail space in Malaysia ranks on par with those in Singapore, Indonesia, Thailand, the Philippines, Hong Kong, and Australia – all considered shopping havens in the region,” Ngeow said.

Malaysia has five international award-winning shopping centres: Sunway Pyramid, Sungei Wang Plaza, The Starhill, Suria KLCC and 1 Utama. They have won the prestigious real estate Prix D’Excellence award. This signals the high calibre and quality of the country's shopping centres.

The vibrant and competitive retail sector has created world-class shopping mall managers to export their expertise overseas.

According to Ngeow, although China's retail industry is booming with some amazing world-class malls under development, the industry faces a shortage of retail property management and marketing expertise.

The SunCity group is exporting its expertise in retail management to mall operators in China's Shenzhen and Chong Qing provinces.

Zerin Properties head of investment Francis Quah said Malaysia’s strong economic growth, expanding young population, urban migration and increasing tourist arrivals had resulted in the strong performance of the retail property sector.

The number of tourists visiting the country is expected to increase to 20 million this year from 17.3 million last year.

To maximise the impact of tourism and spur the continual growth of the shopping mall industry, incentives in terms of duties, taxes and liberal regulations should be given to encourage more foreign retail players to bring in brands and add more depth to the local industry.

SunCity's Ngeow said the local retail sector also needed to address the need for continuous maintenance and service culture.

Industry-specific educational institutes should be set up to produce human capital well equipped with the correct skills and aptitudes of service and maintenance excellence.

“While most new malls do well, a lack of maintenance awareness has led to an absence of continuous value-adding and upgrading of the property to sustain the lifespan of the malls, resulting in the decay of older malls,” he said.

Ngeow said the industry also had room for improvement in the area of service excellence.

“There is a need for high quality personnel training in the field of shopping centre management, which is a key factor to better managed and successful shopping centres of international standard,” he said.

[Ethaniel83]

Originally Posted by patchay

PJ set to undergo major redevelopment

By JADE CHAN
TheStar Metro
May 4, 2007


PETALING JAYA has come a long way from being a rubber estate decades ago, then a satellite town and now a bustling city that is still undergoing a lot of development.

“I remember housing areas like those along Jalan Templer being a fenced up area,” said Section 14A Rukun Tetangga (RT) committee member Soosainathan Arokiasamy, who has been a PJ resident since 1964.

“Sir Gerald Templer (then the High Commissioner of Malaya and Petaling District council chairman) must have planned for PJ to be a satellite town to prevent people from assisting the communists,” he said.

“A satellite town is a self-sustained area outside a larger commercial area. PJ is very different compared to 30 years ago when it was meant to be a satellite town to serve those working in KL,” said Jones Lang Wootton Malaysia senior vice president Azlina Abdul Rahman

Soosainathan and Azlina were among a group of individuals, comprising Rukun Tetangga representatives, property valuers and a retailer, who recently got together to discuss the changes and redevelopment plans for Petaling Jaya, especially in Section 14.

The purpose of the discussion was to trace the history of old PJ, what it is like now and what they want PJ to become in the future.

“PJ South, from Section 8 till PJ Old Town, had the first settlements, which were established about 53 years ago. As development progressed, PJ North, located on the other side of the Federal Highway, was developed. The first four schools in PJ were SMK Assunta, SMK La Salle, Bukit Bintang Boys School and Sekolah Sri Petaling,” said Soosainathan, a former senior assistant at SMK La Salle.

“The first supermarket in PJ – Jaya Shopping Centre (better known as Jaya Supermarket) – was built in 1974 in Section 14. The first mosque was also built here,” said Section 14A RT chairman Tee Kee Tian.

“I like staying in Section 14. Access is good as there are many roads to KL and other towns, the cost of living is not as high as in areas like Damansara Utama and it is convenient to shop at Jaya for fresh produce,” said Tee, a PJ resident for 26 years.

“There were many colleges here in the mid-90’s and a medan selera at the market that drew in the college crowd. Many young people have moved out as the colleges have since relocated elsewhere but the newly opened Digital Mall is drawing them back, he said.

“What Section 14 lacks is a proper neighbourhood shopping mall that provides various merchandise and services under one roof,” he said.

Yee Wah Hing’s Watch Sdn Bhd director Yee Wah Hing owns one of the founding shops in Jaya Shopping Centre and has since expanded to include another shop in Bangsar Shopping Centre.

“My shop in Jaya used to be 600 sq ft; it is now 1,400 sq ft. Rental has also gone up. It used to be RM2 per sq ft in 1974 and it is now RM12 per sq ft,” said Yee.


Jaya Shopping Centre was the first supermarket built in PJ.

According to Tee, there are plans to demolish Jaya Shopping Centre and have it rebuilt.

Its retailers, including Yee’s watch shop, will be moving to the nearby Jaya 33.

“Residents think the idea is good, so long as the redevelopment includes more parking space, proper access roads and better loading/unloading area.”

“Though the neighbouring Section 13 was developed as a light industrial zone, it is not conducive to have this within a residential area,” said Jones Lang Wootton Malaysia executive director Malathi Thevendran.

“The upcoming retail and commercial developments in Jaya 1 and Jaya 33 in Section 13 are to meet the needs of the residents as there is more demand for the service sectors.

“These buildings will feature the latest designs and better planned parking spaces, loading bays, access roads and security,” said Thevendran whose company provides consultancy services like property evaluation and management to property developers

Tee acknowledged that there are pros and cons when it comes to development.

“With development comes better infrastructure and more convenience for the people, but it also means more traffic and problems like snatch thefts and car robberies.”

The Section 14A RT, one of the oldest in Malaysia, makes sure that proper streetlights are installed at the streets, fields and roads, and often organises activities that foster community ties.

“I look forward to the redevelopment of PJ. Once Jaya Shopping Centre is rebuilt, I will open my third watch shop there,” said Yee.

New Jaya Shopping Centre Rendering

[nazrey]

[triple-j]

[nazrey]

Jaya 33, Petaling Jaya
May 6, 2007
Kalau sungei wang plaza facelift macam ni..memang bagus !!!

[patchay]

ooh that 10 Boulevard is near where I stay....

[patchay]

Jaya 33 to build new corporate block after earlier success

By THEAN LEE CHENG


JAYA 33 Sdn Bhd is on to the next stage of its development in Section 13, Petaling Jaya now that its first phase, Jaya33, is about 100% leased out.

Its managing director Che King Tow says the new corporate office block Plaza 33, will be located on a former paint factory. At 2.3 acres, the new project will be about half the size of Jaya33, which sits on a 4.1-acre site, previously a feedmeal factory.

The change from factory premises to commercial office blocks underscores the change of land use in that area by local authorities. Land scarcity, the growing popularity of the Petaling Jaya suburb has made Section 13, at one time an industrial area, far too valuable to remain a huge factory or warehouse site. The area goes back several decades and many of the premises there are rather old, says a source familiar with that area.

“The area is far too valuable to remain as a huge tract of land dotted by factories,” he says.

More factories are expected to move out in the coming years to pave the way for new land use, he says.

Jaya 33 Sdn Bhd's move to change the paint factory into Grade A office space was among the first of such moves to convert the land. It has succeeded in attracting quality multi-national companies (MNCs) into Jaya33. The shortage of prime office space in Petaling Jaya suburb has also boosted its position.

Che says: “We want to leverage on what we have invested in Jaya 33.”

When Che first announced the move to have the three-tower block development in 2004, their initial plans were to sell what he called Petaling Jaya’s first hyperoffice. At that time, hypermarkets, as opposed to supermarkets, were the trend in the retail market. Taking the queue from there, Che coined the term “hyperoffice” with floor plates of about 15,000 sq ft.

The initial plan was to sell the space, the two retail podium floors, the two 12-storey blocks and a 17-storey block. The company eventually decided to lease out the place to have a recurring income.

There were several reasons for this.

Most MNCs, keen to take up space in Jaya33, were not interested to manage the property. They wanted to concentrate on the business they know best, be it pharmaceuticals, insurance or marketing electrical goods. They prefer to rent and have someone manage the place for them, which include overall maintenance of the place, security, parking and utilities.

Recalls Che: “There were three issues. Having the location was not enough. Design and the presence of a single building management were important.”

When True Fitness took up half of its retail podium of about 70,000 sq ft, Jaya33 again took new direction. Prior to the emergence of gyms and wellness clubs, an office block was essentially just that. With the emergence of the gym business, corporate office blocks took on a new lifestyle element.

Even at the beginning, Che had made allocation for a swimming pool. With True Fitness, a spa was thrown in to complement both the pool and exercise club.

The next issue was food and beverage (F&B); corporate offices need options and choices with different price points. Variety comes with Chinese, Japanese and Vietnamese fare. Italian Kitchen and French restaurant Bruno will also be occupying space there by the end of the year, says Jaya33 general manager Tan Kok Leong. Both F&B outlets are in the process of a fit-out at the moment.

Next came the need for a community supermarket. Che is quick to add that he is not running a shopping mall. “The requirements of the modern office today are more than just office space. It must be an office space with a lifestyle feel,” he says.

“What we have today are retail elements that support our corporate offices. F&B takes up between 20% and 25% of our retail podium space. Grocer 33, to be run by the Teng family, formerly the management of TMC mini-market in Bangsar, will take up 10% (15,000 sq ft), and True Fitness 70,000 sq ft.”

Che and his team are thrilled at how things have turned out at Jaya33. What was initially envisioned as car show rooms and hyper-sized digital and computer outlets have turned out for the better.

“We want to leverage on what we have built and put together. There are so many amenities just across Jalan Semangat. Branches of most of the banks are there. In terms of F&B, we have added a considerable amount of choices. We want a building that is alive, not only during office hours, but also after office hours and during the weekends,” Che says.

Whether the 1,000 car parking bays are sufficient or not is a moot point. Che says it will be enough for the weekend and after-office crowd.

The new project he and his team will be undertaking, Plaza 33, will have 900 parking bays. The two blocks will be linked via a bridge.

Che says it will be a Grade A corporate office and will comprise a 16-storey and a 25-storey block. That project is expected to have a gross development value of RM500mil.

The land was bought about three months ago at double the cost of the land for Jaya33. The Jaya33 land cost RM100 per sq ft.

The change in land use in Section 13 is expected to have a spillover effect into Section 19. Besides Jaya33, Jaya One (by Tetap Tiara Sdn Bhd) in Section 13 and 3 2 Square (Seri Tegamas Sdn Bhd, a subsidiary of Crest Builder Holdings Bhd) in Section 19, are near completion. Jaya One is a 10.8-acre RM450mil mixed commercial, entertainment and lifestyle development while 3 2 Square will have 200 office suits and 40 retail outlets.

Both 3 2 Square and Jaya One are located less than 1km away from Jaya33. Besides the conversion of industrial land to commercial use, Section 14 town centre, located across Jalan Semangat diagonally fronting Jaya33, is also expected to evolve with the demolishing of Jaya Supermarket next February.

It will be replaced with a seven-storey retail block and four levels of basement car park. Jaya Supermarket is about 30 years old today. Although the building has been refurbished about a decade ago, the lack of parking and the design of the building have put it at a disadvantage with the emergence of new malls, particularly in Bandar Utama.

Che says the move bodes well for the town centre and will add to the vibrancy of the area. For the next several years, 33 Grocer in Jaya33 will be able to serve the Section 14 community when it opens by the end of this year.

[patchay]

Originally Posted by Ethaniel83

New Jaya Shopping Centre Rendering

oh so the entire Jaya Supermarket and Jaya highrise to be demolish... wow cool this must be the biggest demolishing project in malaysia haha

[Sheik]

I think it is just the mall that will be demolished. Can't wait to see the demolition begin.

[Ethaniel83]

According to the article, the whole building including the office will be demolished by next year.

[triple-j]

Originally Posted by triple-j

from http://www.newlake.com.my/boulevard10Project.html