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Old September 27th, 2007, 08:03 PM   #101
nazrey
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BizFocus:
The allure of Malaysian real estate

By Sharen Kaur
September 5 2007
BusinessTimes


Quote:
Tourists, especially those from the Gulf, are making Malaysia not only a haven for vacation but also a good place to buy properties
INVESTMENTS by Kuwait Finance House and Macquarie Global Property Advisors in properties purchased in Kuala Lumpur and the landmark value paid for the Four Seasons in Langkawi by Prince Alwaleed of the Kingdom Group have encouraged the flow of foreign direct investments (FDIs) in real estate in Malaysia.

Hall Chadwick Asia (HCA) Sdn Bhd chairman Kumar Tharmalingam said Malaysia's real estate attracted international attention when it removed its shackles from the 1997 regional meltdown.

While there's no fixed rule to what assets are purchased, Middle East investors try to be more syariah-compliant, failing which, they become short-term investors and sell the assets as soon as the project is ready for occupation.

"Other private equity funds will look at the whole range of assets that can give them development profits and income after completion. That provides them with the base returns they are used to in the Gulf, which have been in double-digits," Kumar told Business Times.

He said most investment funds have five-year time frames, where they would look at their real-estate portfolios and sell what they don't need.

He added that tourism has been a great catalyst for the development of real estate in Malaysia.

"Tourists from the Gulf have been arriving here for the last four years in growing numbers. When they return to their home country, they realise that Malaysia is not just a haven for tourists but a good place to invest in," Kumar said.

He said Malaysia's targeted tourist countries like South Korea, Japan and the Middle East have generated positive investments in real estate.

Tharmalingam believes there is also a new wave of investments coming in the food and beverage, and hospitality industries.

"We have investors looking to set up Syariah-compliant five-star hotels in Malaysia, aimed at the Middle East family market. They think there is a market for it here," Kumar said.

He said these hotels will become the centre piece launch pad for similar hotels in Asia, and Malaysia would probably be the hub because of the country's direct air connections within three hours to China and India, and Southeast Asia.

"China, India and Southeast Asia have a total population of three billion people, of which, 800 million are Muslims. Investors believe they can cater to these non-traditional Muslim markets as well through the establishment of the hotels," he added.

Kumar said some of HCA's clients are now looking at buying existing hotels, or building new ones in the Klang valley.

He said the Four Seasons Hotel, currently under construction, will be the magnet for more five-star hotels to be developed in Kuala Lumpur.

Meanwhile, investors from India, Saudi Arabia, South Korea, China and Singapore prefer to buy condominiums, services apartments and luxury houses in Kuala Lumpur, Johor and Penang, worth in excess of RM2 million, representing the premier segment in real estate.

In terms of pricing, Tharmalingam said, Malaysia is still 10 per cent and 20 per cent of Hong Kong's and Singapore's value respectively, in ringgit terms.

"The appetite is always urban. They believe where there is a large urban population, the quality of assets are better and there is also higher rental income returns," Kumar said.

He said Malaysian property buyers would not be affected by foreigners buying homes here. Foreigners buy homes worth in excess of RM2 million, which is not of majority Malaysian interest.

Middle East investment agencies, meanwhile, are looking at providing the large number of investors here with facilities they are comfortable with.

Kumar said there will be more financial institutions, credit card firms and Syariah-compliant tourism facilities like transport and up-market residential accommodation coming up.

"Indian and Chinese government-owned funds are also seeking to invest in Malaysia. They are planning to replicate the success story of Temasek Holdings, which has a good track record of investing outside Singapore," Kumar noted.

Last edited by nazrey; September 27th, 2007 at 08:14 PM.
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Old September 27th, 2007, 08:14 PM   #102
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Foreigners own 30pc of condos in KLCC vicinity
September 5 2007
Businesstimes

Quote:
Besides Indians, Arabs, South Koreans and Singaporeans, investors from Hong Kong, Europe and Japan have also started to buy properties in Malaysia, says the chief executive officer of Zerin Properties
REAL estate firm Zerin Properties' chief executive officer Previndran Singhe said almost 30 per cent of high-end condominiums in the vicinity of the KLCC have been sold to foreigners, largely made up of Arabs.

"The Arabs have come in strongly with the presence of the three Arab-Islamic banks in Malaysia that update their clients back home on what's happening in the real estate market," he said.

He said besides Indians, Arabs, South Koreans and Singaporeans, investors from Hong Kong, Europe and Japan have also started to buy properties in Malaysia.

"They are buying properties to live in and for investments, and usually taking more than one unit. Some actually pay for their purchases in cash. We are an attractive proposition in terms of value per dollar spent and this is attractive to them," Previndran told Business Times.

Investors were also attracted to Malaysia's investment incentives, real estate law that is transparent, and robust economy.

Previndran foresees the buying of properties here by foreigners to continue for another 10 years.

He said they are keen to invest in high-end condominiums, bungalows, shop offices, and office buildings, malls, hotels and warehouses that have good tenants.

He added that the Klang Valley has been the main pull, followed by Penang and Johor. Sabah is also becoming a hotbed for foreigners, especially for resort homes.

"Foreigners are attracted to developments at the KLCC. Owning a piece of prime condominium near there has become a dream for many," he said.

A few thousand condominium and serviced apartment units have been launched near the KLCC in recent years, some as high as over RM1 million each. There are penthouse units, which cost more than RM10 million and sold like hot cakes.

"I think the niche products for units priced above RM2 million are going to increase in price and Malaysians will have to compete with international buyers as well," Previndran said.

Condominium projects within the KLCC area include Avenue K Residence, The Avare, The Binjai, Dua Residency, Suria Stonor, The Marc, The Meritz, 2 Hampshire, Park Seven, Binjai Residency, myHabitat, Lot 163, Idaman Residences, Four Seasons Residences, The Oval and The Troika.
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Old September 28th, 2007, 04:11 PM   #103
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Wonder if this could compete with dubai ???? I don't know
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Old October 6th, 2007, 05:33 PM   #104
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by silviaparicio

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Old October 11th, 2007, 04:27 AM   #105
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Old October 11th, 2007, 06:58 PM   #106
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Old October 15th, 2007, 12:55 PM   #107
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Old October 16th, 2007, 11:40 PM   #108
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Great tower, nice renderings, updates and pics too nazrey!

These twise will look absolutely stunning with Petronas Towers behind!
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Old October 17th, 2007, 02:03 PM   #109
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yeah.. stunning design
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Old October 21st, 2007, 05:03 AM   #110
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Through KLCC Subway Station
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Old October 21st, 2007, 09:25 AM   #111
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It's a perfect design complement to the Petronas Towers.
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Old October 23rd, 2007, 02:51 PM   #112
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Old November 3rd, 2007, 07:14 PM   #113
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Old November 9th, 2007, 04:46 PM   #114
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Update :

Quote:
Originally Posted by James Foong View Post

Last edited by nazrey; November 12th, 2007 at 04:25 PM.
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Old November 12th, 2007, 04:23 PM   #115
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Update :

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Old November 26th, 2007, 12:37 PM   #116
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Construction progress as at 20 November 2007.
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Old November 27th, 2007, 05:28 AM   #117
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by Colin, Eve, Daniel

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Old November 27th, 2007, 05:29 AM   #118
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Old November 27th, 2007, 05:34 AM   #119
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Old December 11th, 2007, 05:18 PM   #120
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