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Pangsapuri completed and under construction residential projects & high-rise living



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Old February 16th, 2008, 05:50 PM   #21
ferrari430
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So is around 620-650 RM psf a reasonable price for this location (fully furnished)
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Old April 7th, 2008, 04:32 AM   #22
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PJ Dev to launch RM300m high-end project in KL
By Sharen Kaur
Published: 2008/04/07


Potential buyers from Hong Kong, Singapore and the UK are already lining up to buy the apartment units, says a PJ Development general manager


PJ DEVELOPMENT Holdings Bhd, a property developer, will launch a new RM300 million high-end project in Kuala Lumpur, dubbed the Swiss-Garden Residences this month.

The residences will consist of two apartment tower blocks of more than 30 storeys each. Construction will take about three years.

James Chew, its general manager for the property division, said the towers will have a unique feature. They will have hotel rooms up to level 11.


The rooms would be directly connected to the Swiss Garden International Hotel Kuala Lumpur via a bridge. The hotel is also owned by PJD.



"The original plan was to build two towers offering more than 450 apartment units. But since the hotel (Swiss Garden) is always fully occupied we decided to offer some hotel rooms at the residences," Chew told Business Times in an interview.

Chew said under a revised plan, the residences will offer 436 apartment units and 42 hotel rooms and both will complement the Swiss Garden Hotel.

The towers will be built on a 0.7ha site which is directly behind the Swiss Garden Hotel, using internal funds and loans.

Chew said the land was bought two years back for RM20 million.

He said the design of the buildings would be contemporary and modern and earmarked as an iconic building in the Jalan Pudu area.

"We are targeting locals, and buyers from Hong Kong, Singapore and the UK. Potential buyers from these countries are already lining up to buy the properties," Chew said.

"The units, with sizes ranging from 550 sq ft to 2,700 sq ft, are pegged from RM600 per sq ft and onwards. The prices are attractive considering the current market value within the vicinity," he added.

Chew said service apartments in the Klang Valley are still selling like hot cakes as they offer good business opportunities, especially for those who are looking at investments.

"Property prices have increased a lot so as developers we are providing good yields for investors," he said.

According to Chew, PJD is moving away from building medium-priced homes to high-end residences and it has been doing this for three years due to strong demand in the Golden Triangle area.

"PJD prefers to go into niche markets by acquiring smaller parcels of land that have good and immediate potential for development," he added.

For the first half of 2008, PJD expects to launch RM810 million worth of new properties in Kuala Lumpur and Johor.

Besides property development, the company also runs a profitable power cable manufacturing business and owns the Swiss Garden hotel chain.
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Old April 14th, 2008, 09:13 AM   #23
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Swiss residence is launching soon. selling at RM650psf onward with 5+5 year lease back at 7% guarantee.
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Old May 16th, 2008, 07:36 AM   #24
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PJ Dev finalising deal to sell office tower
By Sharen Kaur
Published: 2008/05/16


DEVELOPER PJ Development Holdings Bhd (PJD) is finalising a deal to sell a 26-storey office tower in Jalan Tun Razak, Kuala Lumpur, for some RM300 million.

The yet-to-be-named tower, which is under construction, will have 120 office suites and retail lots on a 0.6ha freehold site when completed by mid-2009.

PJD expects net profit and revenue to increase by more than 10 per cent in the year to June 30 2009 due to new launches and better sales.

In fiscal 2007, it posted a net profit of RM42.4 million and revenue of RM549.4 million.




"Our performance for the current year will also improve, led by projects that we have launched in the last 12 months," chairman Mohamed Zain Mohamed Yusoff said.


He was speaking after witnessing the signing of a management agreement between Swiss-Garden International (SGI) Hotels, Resorts & Inns and Superville Sdn Bhd for Swiss-Garden Residences in Kuala Lumpur yesterday.

Superville, the developer for residences located at Jalan Galloway, off Jalan Pudu, Kuala Lumpur, and SGI, are both units of PJD.

Swiss Garden Residences comprises two serviced apartment blocks worth RM270 million, which will be connected to Swiss Garden International Hotel Kuala Lumpur via a connected bridge. The hotel is also owned by PJD.


Tower A, a 33-storey building, is offering 183 apartment units with built-ups of 550 sq ft and 650 sq ft for one-bedroom and 750 sq ft for a two-bedroom, pegged at more than RM700 per sq ft, and two penthouses with built-up of 2,700 sq ft, priced at RM1,000 per sq ft.

Tower B, which has 37-floors and not open for sale yet, will offer bigger units.

Mohamed Zain said 80 per cent of Tower A has been snapped up by locals and buyers from Hong Kong, Singapore and UK in less than three months even before the launch of the project.


"The take-up rate was faster than we expected and we hope the same to happen for Tower B when we open it for sale," he said.
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Old May 17th, 2008, 08:17 AM   #25
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Service in the heart of KL
By THEAN LEE CHENG


PJ Development's new apartments already attracting the crowd

PJ Development Holdings Bhd expects a steady income flow from various projects over the next three years despite the uncertain global and national economic outlook. Judging from the sales of its Swiss-Garden Residences in the last three months, this appears to be a realistic expectation.

“We have yet to launch but the first block of Swiss-Garden Residences, located along Jalan Galloway, is already 80% sold with buyers from Singapore, Hong Kong and Malaysia,” says executive director Yap Yoon Kong.

The 436-unit project, on 1.7 acres of freehold land, comprises a 37 and a 33-storey block. One of the blocks will be directly linked to the four-star Swiss-Garden Hotel via a covered bridge. Both blocks will be linked at the podium level.

Yap says the selling point is the location, which is at the fork between Jalan Bukit Bintang and Jalan Pudu. “This place is vibrant and is located near a tourist shopping area,” he adds.


“We are able to offer a guaranteed return of 7% over the next five years, with an option to extend another five,” says Yap.

The concept of a serviced apartment with Swiss-Garden Hotel offering its services is another attraction.

“The hotel has an occupancy rate of more than 80%. We own and manage the hotel, together with another four located throughout the country.

“Linking the residences to the hotel and providing services to match is just a small extension. That is why we are able to offer a guaranteed return of 7% over the next five years, with an option to extend another five,” says Yap.

The company is working on a service charge of 35 sen per sq ft, which it will waive for the first five years.

The group owns Swiss Inn in Kuala Lumpur's Chinatown, Sunway Hotel in Georgetown, Penang and Swiss-Garden Resort and Spa Damai Laut off Pangkor and Swiss-Garden Resort and Spa in Perak and Kuantan respectively. It also has another property, Garden-Lodge, in Sydney, Australia.

On the upcoming service apartment, Yap says the unit size ranges from 550sq ft to 2,700sq ft.

Priced between RM330,000 and RM2mil, he says this works out to RM800 psf, which is relatively attractive considering how land prices have moved up of late.

The development has a gross value of between RM260mil and RM270mil.

The project is within walking distance of Plaza Rakyat - an integrated development which has had its fair share of starts and stops - and a stone-throw away from the former Pudu prison, which is expected to be redeveloped.

“These are projects in our vicinity. Once they are up and running again, they will add to the value of our development,” he says.

The group has five core divisions; the hotel and leisure business involves ownership, hotel operations and its time-sharing business.

This, says Yap, offers a steady recurring income. The hotel and leisure divisions contribute between 20% and 30% to group income.

Other divisions include trading of building materials and manufacturing of power cables.

The contribution from both is insignificant but strategic as they help the company keep tabs of market conditions.

Its property and construction divisions are by far the most lucrative, as both contribute between 50% and 60% of group revenue annually.

PJDH chalked up a six-month cumulative revenue of RM356mil as at end December 2007, compared with RM252mil for the same period in 2006. Profit before tax amounted to RM87mil and RM19mil respectively.

The group has about 1,500 acres of undeveloped land in Selangor, Kuantan, Butterworth and in the states of Johor and Perak.

Besides the service apartment project, the company will also launch its gated and guarded development Duta Kingsbury in Sri Hartamas in the next several weeks.

The 10-acre freehold development will have 64 units of linked houses and 200 condominium units split over two blocks. Unit sizes range from 2,000sq ft to 6,500sq ft.

Units are furnished with kitchen cabinets, cooking appliances and refrigerators while its standard landed terraced units (24ft x 75 ft) with air-conditioners.

Facilities include a swimming pool, a gym, tennis and squash courts, meeting rooms and a multipurpose hall. Maintenance is at 24 sen psf.

This strata development will be completed by 2011.

“With the Mont’Kiara and Sri Hartamas amenities like malls, international schools and strong food and beverage outlets, Duta Kingsbury will boost our income considerably.” he says.

Prices for landed and condominium units range from RM1.4mil to RM6mil. Duta Kingsbury will have a development value of RM580mil.

The company also took over an abandoned 28-storey office block in Jalan Tun Razak, which it will complete next year and aims to sell en bloc for about RM300mil.

The company has other projects in Bukit Antarabangsa and Cheras.
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Old May 17th, 2008, 08:53 AM   #26
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Launching May 18
http://swissgardenresidences.com/

Last edited by Greg; May 17th, 2008 at 09:42 AM.
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Old May 17th, 2008, 09:16 AM   #27
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thx greg....
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Old May 21st, 2008, 09:31 AM   #28
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One of the blocks will be directly linked to the four-star Swiss-Garden Hotel via a covered bridge.
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Old May 21st, 2008, 09:32 AM   #29
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Old May 21st, 2008, 09:33 AM   #30
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Old May 29th, 2008, 07:46 AM   #31
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starting price - RM333,888.00
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Old June 6th, 2008, 07:11 AM   #32
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wah sold out in juz 2 days??...
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Old June 6th, 2008, 07:14 AM   #33
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RM333,888 to RM3million...5% for bumiputra....
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Old June 8th, 2008, 07:41 PM   #34
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Just notice of the petrol price increase, the developer has increased the price by 20k-25k for all the remaining units.

Rizal, do you grab any?

Did you went in to the show room and how's the taken up rate now?
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Old June 27th, 2008, 04:32 AM   #35
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PJD sees brisk sales
By S.C. CHEAH


=KUALA LUMPUR: PJ Development Holdings Bhd (PJD) has sold all 185 serviced apartments in one of two blocks for its Swiss-Garden Residences project.

Executive director Yap Yoon Kong said the 33-storey Tower A was fully sold when the 1.7-acre freehold development at Jalan Galloway, off Jalan Pudu here was launched on May 31.

“We launched the 37-storey Tower B the following weekend and sold about 40% of the 251 units,” he said, adding that buyers were local and foreigners from Hong Kong and Singapore.



Yap Yoon Kong (left) and James Chew with a model of the Swiss-Garden Residences.

Yap said construction work would be stepped up in view of the rising costs. “We have made some adjustments with our contractors who are also committed to ensuring the success of the project,” he told StarBiz.

He said the apartments, priced from RM333,888 for the first block were the only one of its kind in the area and would be managed by the Swiss-Garden International Hotels, Resorts & Inns.

The apartments have built-up areas ranging from 550 to 2,700 sq ft for the penthouse units. Tower A has four layout designs and Tower B seven.

The facilities include 24-hour security, CCTV cameras, access card system to the lifts, squash court, sauna, infinity and wading pool, gymnasium and children’s play area while services include broadband, laundrette and convenience store. There will also be a banquet hall and function rooms.

Slated for completion in April 2011, the project is being developed by Superville Sdn Bhd, a wholly-owned subsidiary of PJD.

Superville general manager James Chew said buyers would get a free parking bay per unit. There will be basement car park and five levels of above ground car park. There will also be a link to the adjacent Swiss-Garden Hotel.

Chew said sales were still moving despite the recent oil price increase. “When we did piling the price of steel was RM1,800 per tonne. It has now gone up to RM4,000 per tonne.”

PJD has several projects in the pipeline. They include the leasehold Sierra Oakleaf in Bukit Antarabangsa here that would be developed on a “build-then-sell” concept. It would comprise 20 semi-detached homes priced around RM2mil each.

The company bought over a project in Jalan Tun Razak a year ago. It plans to build offices and retail units there and hopes to sell it en bloc.

It also has a high-end project called Duta Kingsbury @ Dutamas in Sri Hartamas here where it will build three-storey super-link houses and two blocks of condominiums.

Yap said it has not yet decided on the launch dates of the three projects.
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Old July 19th, 2008, 03:05 PM   #36
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Old July 28th, 2008, 06:54 AM   #37
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Swiss-Garden expects gross operating profit to rise
Published: 2008/07/28



PJ DEVELOPMENT Holdings Bhd's (PJD) leisure group, Swiss-Garden International Hotels, Resorts & Inns (SGI), is optimistic of achieving a gross operating profit (GOP) of up to 40 per cent this year from a sales projection of RM100 million.

For its fiscal year ended June 30 2008, SGI achieved RM80 million in revenue, up 25 per cent from 2007.

GOP has been consistent at 35 to 40 per cent of sales annually in the last two years, SGI vice-president for operation, Raymond Yeoh, told Business Times in an interview.

In achieving higher growth, SGI plans to expand its hospitality management portfolio from managing nine properties currently to 15 in three years through its management capabilities, Yeoh said.



SGI now manages four properties off Pangkor Island in Perak - which are Swiss-Garden Golf Resort & Spa Damai Laut, Damai Laut Golf & Country Club, Swiss-Court Holiday Apartments and Swiss Villas.

It also manages Swiss-Garden International Hotel Kuala Lumpur, Swiss Inn Kuala Lumpur, Swiss-Garden Resort & Spa Kuantan, Pahang, Swiss-Inn Sungai Petani, Kedah, and Garden-Lodge Sydney.

PJD, which owns all the properties, had acquired Garden-Lodge Sydney in Australia for RM15 million recently to add to its hotel chain. "We will also manage PJD's Swiss-Garden Residences in KL," Yeoh said.

The main-board developer is constructing the residences, which comprises two serviced apartment blocks, for RM270 million.

PJD will soon launch Swiss-Garden Residences in Butterworth, Penang, which SGI will manage.

"PJD is planning to extend the Swiss-Garden Residences label in major cities in Malaysia. We look forward to managing the properties," Yeoh added.

SGI vice-president for business development, Melinda M.W.Ngew, said it is looking to establish the Swiss-Garden hotel and resort chain in Sabah and Sarawak, Australia China and Cambodia.

"We are looking for partnerships to develop the brandname," she said.

"We are also on the lookout to outsource our management expertise in Malaysia and overseas. We are in talks with local developers and owners in Sabah and Sarawak for the services," she said.

She said all properties under SGI have been refurbished in the last 18 months or in the process of being upgraded for RM60 million collectively. - By Sharen Kaur
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Old July 30th, 2008, 09:48 AM   #38
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Old July 30th, 2008, 10:16 AM   #39
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Old July 30th, 2008, 10:17 AM   #40
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