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Mixed-Developments completed, refurbished and ongoing mixed-developments projects



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Old April 12th, 2007, 01:44 PM   #1
patchay
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THE PARADIGM | Selangor (Kelana Jaya) | U/C









WCT Land website updated!


Source: TheEdge City & Country April 9, 2007

With the success of Bandar Bukit Tinggi, WCT has also decided to venture out of the Klang market.

About a year and a half ago, the developer secured a 12.6-acre leasehold tract in Kelana Jaya, Petaling Jaya. It plans to put up a building called The Paradigm.

This will comprise six blocks of office suites [6 ???] that include SOHO units as well as a neighbourhood shopping mall of about 500,000 sq ft in size. The projected GDV is RM1.2 billion.

"There are not enough Grade A office buildings in Petaling Jaya. We feel that it's time to offer something like The Paradigm. The site is good as it's situated along the LDP Expressway which enjoys high traffic," says Lai.

Total built-up of this development is about 2.48 million sq ft. Lai expects things to start moving after the second half of the year.



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Originally Posted by patchay View Post
Introducing to you Kelana Jaya's latest commercial precint. Source: WCT Land.



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Last edited by patchay; June 12th, 2007 at 05:24 PM.
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Old April 12th, 2007, 01:58 PM   #2
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great. great. great. cant wait to see this one....
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Old April 12th, 2007, 02:02 PM   #3
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Guys ... get ready to see Kelana Jaya's Skyscraper Madness !!!

THE PARADIGM - 6 BLOCKS of TOWERS + MALL

Storeys: 27 - 30 - 31 - 31 - 32 - 33


27 & 30 = SOHO suites
31s, 32 & 33 = Offices
4 storey shopping mall

Property Boom or what?
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Old April 12th, 2007, 08:28 PM   #4
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PJ's skyline will change so massively in coming few years... Imagine when Kelana Jaya + Damansara skyline join together...

By the way, for those who want to see this skyline, travel on Jalan Kewajipan from Subang Jaya towards PJ, then you'll know what i mean
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Old April 13th, 2007, 01:55 AM   #5
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OMG !!!!!

What a superb project!!!! This is really a completely modernity project!!!
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Old April 13th, 2007, 06:40 AM   #6
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yay!! our own twisting towers
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Old May 2nd, 2007, 07:15 AM   #7
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WCT Land to launch RM1.2b Kelana Jaya project in June
By Kang Siew Li
May 2 2007
BusinessTimes


Quote:
WCT Land is now looking for strategic partners to jointly develop the 'The Paradigm' project that may take between five and six years
PROPERTY developer WCT Land Bhd, which has gained a strong foothold in Klang, will in June this year embark on a RM1.2 billion commercial development project in Kelana Jaya, Petaling Jaya.

The development, which covers 5.02ha of prime leasehold land, will be WCT Land's second development outside its home base of Klang after Kota Kinabalu.

Dubbed "The Paradigm", the development will consist of a shopping centre with 500,000 sq ft of lettable retail space, four grade A office buildings of 31 to 33 storeys in height and two blocks of 27- and 30-storey small-office-home-office (soho).

WCT Land Group general manager Yong Kiang Keen said it is looking for strategic partners to jointly develop the project that may take between five and six years.

"We are talking to several parties (to form a joint venture to develop the project) and are looking for partners that can create value to the project," he told Business Times.

He declined to name them, but said that the partnership can be either with government agencies, financial institutions or private sector.

WCT Land will hold the majority stake in the venture.

"Nevertheless, a joint venture is only an option. Either way, we will definitely be going to the market by the middle of this year," he said.

The Paradigm project will be built on land owned by WCT Land, which is located directly opposite the existing Giant hypermarket in Kelana Jaya.

Yong said the group will first launch the office buildings and retail portions of the project.

Like all its previous commercial developments, WCT Land will keep some units of its office buildings for future rental purposes in line with the group's plans to increase its recurring income.

The development will also see an upmarket neighbourhood shopping centre, much like Bangsar Village and Bangsar Shopping Centre in Kuala Lumpur size-wise.

WCT Land executive director and chief operating officer Lai Yeng Fock said The Paradigm will offer high-quality office space and add value to the entire Kelana Jaya and surrounding areas.

"There is a shortage of good quality office space in Petaling Jaya. Most of the existing office buildings are old, and not top-tier grade A type," he said.

Lai is confident that the project will get good response due to the fact that more companies are moving towards the fringe of the city and Kelana Jaya will fit nicely in their plans.

The Paradigm is one of WCT Land's major projects for 2007. It recently opened sales for BBT-One, a RM145 million commercial complex in Klang's Bandar Bukit Tinggi 1.

Lai said the group will make its first foray outside Malaysia in Vietnam with its first mixed-use property development scheduled in Ho Chi Minh City at year-end.

It plans to build an integrated development of retail, commercial and residential properties on a piece of state-owned land ranging in size from 4.05ha up to 12.2ha in Ho Chi Minh City.

Lai said the group has already submitted its proposal to the relevant authorities and is now awaiting their approval.

It expects to be issued with a certificate of ownership and land use right and begin construction by year-end.

"Once the approval is granted, we will proceed to form a joint venture in which we will take a majority stake. We have already identified a local partner there," said Lai.

Meanwhile, Lai said the group expects its performance this year to be "positive", driven by the sale of its residential properties in Kota Kinabalu and commercial properties in Bandar Bukit Tinggi 1.

It posted a smaller net profit of RM46.9 million on revenue of RM231.7 million last year.

So far, it has some 162-182ha of undeveloped land in Klang, which will keep it busy for another six to seven years.

Still, the group is on the lookout to expand its landbank in the country.

"However, we want to go to areas that have immediate development potential rather than to buy some land and hang on to it until it is able to get a good price. We are looking for both commercial and residential developments," said Lai.
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Old May 27th, 2007, 05:00 PM   #8
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May 27th, 2007:

Opposite Giant Kelana Jaya:
Hoarding erected but land clearing work hasn't commence.

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Old May 28th, 2007, 06:36 AM   #9
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Thanks James for the photo.
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Old May 28th, 2007, 10:28 AM   #10
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can't wait for the construction of Malaysia's own twisting towers!
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Old May 29th, 2007, 05:43 AM   #11
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that area...is going to be crying out for public transport....

Too bad the LRT track...is going to be a little too far away....

new station at Lembah Subang...becomes more and more necessary....

cheers, m
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Old July 17th, 2007, 01:51 PM   #12
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http://www.theedgedaily.com/cms/cont...ee000-afde989d
16-07-2007: Bullish outlook on WCT Land

Email us your feedback at fd@bizedge.com


Affin Investment Bank Research has upgraded WCT Land Bhd to a "buy" from "hold" despite the stock currently trading at a high financial year 2008 (FY08) fully diluted price-earnings ratio of 21.6 times compared with the sector's 14.8 times.

"However, positive news on the group's upcoming project in Vietnam and other potential land acquisitions may stir further speculative interests in the stock," it said in a research note on Friday.

It said over the past year, WCT Land's share price had surged 264% and outperformed the KL Property Index by 167.6%. Over the past month, the share price rose 48.9%, outpacing the KL Property Index by 41.8%.

Affin Research said the three factors driving the share price were the bullish industry outlook, potential overseas projects and rising speculative activities.

In its analysis, it said the property market was rising on expectations of further asset reflation on a stronger ringgit outlook. Also, there is a huge disparity in property prices in Malaysia vis-à-vis Singapore.

Currently, the prices of high-end condominiums (Orchard Residences) in Singapore have reached S$3,000 (RM6,750) psf compared with RM800 to RM1,000 psf of newly launched condominiums in the premium KLCC area.

Malaysia's consumer spending is also expected to recover on the back of stronger gross domestic product growth, rising per capita income and stable interest rates.

Affin Research said WCT Land's management had indicated keen interest in development projects in Ho Chi Minh City in Vietnam, which is currently enjoying a property boom.

"We understand that the company is awaiting approval from the authorities for its plan to build an integrated development of retail, commercial and residential properties on a piece of state-owned land ranging in size from 4.05ha up to 12.2ha," it said.

A third factor was that WCT Land had placed out 16.2 million shares to bumiputera investors at RM1.38 last week at a steep 32% discount to the market price. Instead of a temporary weakness, the share price gained 22% over the past week, indicating higher buying activities.

Affin Research also said WCT Land planned to launch the d'Banyan Residency@Sutera luxury home project in Kota Kinabalu next month. On a 21.5-acre piece of land, the project will be launching 2½ storey semi-detached and 2-storey superlink villas, which will have an increased gross development value (GDV) of RM250 million from RM227 million in earlier estimates.

It said there was already a 27-hole golf course, clubhouse, yacht club, marina and five-star hotel. This high-end project with an estimated 30% pre-tax margin could generate a net profit of RM56 million over the next two to three years.

On its project in Petaling Jaya, WCT Land said work had started on The Paradigm@Petaling Jaya, a commercial complex comprising a 400,000-sq ft shopping mall, one tower of small office, home office (SOHO) and five towers of class-A corporate offices.
This RM1.26-billion GDV project will begin with the shopping mall, which is for investment income. The SOHO and office units are only expected to be launched towards the end of 2008, with bottom-line impact only in FY09.

Meanwhile, the Bandar Bukit Tinggi One (BBT One) commercial development, with a total GDV of RM147 million, has fully sold out 20 units of 4-storey shopoffices priced at an average of RM2.9 million each. This project comprises two towers of 12-storey corporate offices, which management may retain for investment income.

Meanwhile, work on the hotel is expected to start this month.

The research house said demand for WCT Land's residential properties in Bandar Parklands in BBT Three remained firm, with residential units valued at RM100 million. They are expected to be launched this year.

In April, the 125 2-storey shop units with a GDV of RM70 million were sold out within two weeks of the launch. New attractions for potential home buyers could be a Chinese primary school, which is pending approval from the Education Ministry. With the remaining GDV of RM810 million yet to be launched, this township is expected to last another nine years.

Affin Research also said WCT Land's unbilled sales as at March 31, 2007 were relatively low at RM130 million, representing only 40% of its forecast progress billings for FY07.

"Nevertheless, management remains confident that sales would accelerate with the launch of d'Banyan Residency, BBT One shopoffices and rising residential sales in BBT, which should translate into higher unbilled sales," it said.

The research house said its forecast for FY08 was net profit growth of 27% mainly due to the higher GDV of d'Banyan Residency and a two percentage-point increase in pre-tax margins arising from the increased content of high-value shop offices in BBT One and Two.

"However, we maintain our FY07 earnings forecast, with a cautious 10% net profit growth projection, consistent with management's guidance," it said.

Affin Research raised its revised net asset value (RNAV) of 43% to RM3 from RM2.10. The higher RNAV was based on rising commercial development in Bandar Bukit Tinggi and Klang. The group's land values had risen over the past one year.

It raised its valuation of land prices of RM5 psf for BBT One, RM3 psf for BBT One, RM2 psf for BBT Three-Bandar Parklands, RM50 psf for its Kelana Jaya land and RM20 psf for its Sabah land.
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Old July 18th, 2007, 07:38 AM   #13
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Exciting indeed!
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Old July 18th, 2007, 12:27 PM   #14
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They are actually building this? OMG! This is a design breaktrhough for Malaysia!
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Old October 22nd, 2007, 06:02 AM   #15
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Good job!
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Old November 25th, 2007, 07:28 AM   #16
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I believe that could be u/c as well as Damansara City
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Old November 25th, 2007, 05:40 PM   #17
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Quote:
Originally Posted by allurban View Post
that area...is going to be crying out for public transport....

Too bad the LRT track...is going to be a little too far away....

new station at Lembah Subang...becomes more and more necessary....

cheers, m
no kidding...traffic is going to go from miserable to miserabler, perhaps even to miserablest :P My kingdom for heavy underground rail!
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Old November 29th, 2007, 06:47 AM   #18
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Recently News from WCT Land

WCT Eng to unveil major deal with WCT Land
by Gan Yen Kuan, 28 Nov 2007 10:24 AM
THEEDGEDAILY

KUALA LUMPUR: WCT Engineering Bhd will announce a “major transaction” involving itself and its subsidiary WCT Land Bhd, the company told Bursa Malaysia yesterday.

It did not provide further details. Trading in their shares was halted from yesterday afternoon. The counters will resume trading on Monday.

When contacted, WCT Land executive director and chief operating officer Lai Yeng Fock said the boards would have a meeting today, and announce the corporate exercise by end of the week. He declined to give further details.

Analysts said the “major transaction” could involve WCT Land being taken private, or WCT Engineering selling down its stake in WCT Land to accommodate the entry of one or more strategic investors.

“I suspect that it’s either taking WCT Land private or WCT Engineering selling its stake to some strategic investors. Both are likely to happen,” an analyst told The Edge Financial Daily via telephone.

If taking WCT Land private was the case, an analyst said it would be “no big deal” at all, as there would be little earnings contribution to WCT Engineering. “There will be only 4% enhancement to earnings for financial year 2008,” he said.

Before being suspended, WCT Engineering was unchanged at RM7.95 while WCT Land rose 11 sen or 5.8% to RM2.01.

WCT Land is the property development arm of WCT Engineering. As at March 30, 2007, WCT Engineering owned 73.4% of WCT Land, whose major project is the integrated township development in Bandar Bukit Tinggi, Klang.

Two weeks ago, WCT Engineering aborted a planned US$100 million (RM338 million) convertible bonds issue, citing prevailing volatile market conditions caused by the US subprime mortgage woes.

On the same day, it announced plans for a one-into-two share split, which will be followed by a RM300 million Islamic bonds with warrants issue to raise funds for working capital.
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Old December 2nd, 2007, 02:18 PM   #19
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Dec 2, 2007:

Boring rigs are now concentrating at the retail mall section.
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Old December 20th, 2007, 01:15 PM   #20
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3D animation walkthrough for Paradigm Kelana Jaya
From youtube

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