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Old August 1st, 2008, 09:33 AM   #21
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The Light goes green
Friday August 1, 2008, TheStar

IJM’s The Light waterfront project in Penang will be developed in accordance with the Leadership in Energy and Environmental Design (LEED) - a green building rating system established by an international sustainable building movement.

IJM Land managing director Datuk Soam Heng Choon said the company was committed to building eco-friendly buildings as these features would help purchasers save on utility bills.

“This is especially important now with cost of energy on the rise. Besides eco-friendly technologies, the project boasts of wind turbines, solar panels, a modern water management system and green roofs.

“The use of recycled materials on selected areas and a state-of-the-art solid waste management system is also on the cards,” he said.

He also said that once the project was completed, residents and visitors would be able to enjoy a massive seafront park under Phase 3 of the development.

Featuring 1,186 units of high-end waterfront condominiums, an office tower, four hotels, a family hall, an IT mall, a fashion mall, dining and entertainment facilities, the project is located along the Penang’s eastern coastline.
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Old August 26th, 2008, 06:47 AM   #22
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IJM Land lines up projects with GDV of RM600m
By Zuraimi Abdullah Published: 2008/08/26
BusinessTimes

IJM Land Bhd, the property arm of builder IJM Corp Bhd, plans to launch 28 projects with a total gross development value (GDV) of RM600 million at its existing and new developments in the country in the year ending March 2009.

Key launches will include a new phase of The Light project in Penang and an upmarket development at Sebana Cove in Johor Baru.

IJM Land also expects to start building an upmarket residential and retail project in China’s automotive city, Changchun.

The Changchun project will boast a GDV of RM500 million, IJM Land managing director Datuk Soam Heng Choon said.

It will be undertaken on a 50:50 partnership with Talam Corp and is set to be completed in four years.

Soam said 15 out of the 28 projects are under IJM Properties Sdn Bhd, which is being consolidated into IJM Land.

“We are completing the rationalisation of IJM Properties into IJM Land by September 5,” he told reporters after IJM Land’s annual general meeting in Subang Jaya yesterday.

IJM Properties’ financial results will be consolidated into IJM Land’s account after the date, Soam added.

With the rationalisation, IJM Land will geographically be

a nationwide developer with prime areas in Penang, the Klang Valley, Johor, Sabah, Negri Sembilan and Malacca, he said.

Soam said properties under IJM Properties are expected to account for one third of its total GDV from the next financial year, although Klang Valley will remain IJM Land’s top contributor in the next few years.

IJM Properties has 20ha land in Penang, with The Light component as its jewel in the crown in the state.

Sabah will be a key area for the company too, with its 146ha land in Sandakan that is being developed into a mixed township development, he said.

IJM Land bought the Sebana Cove land in Johor for RM120 million and plans to redevelop into an upmarket residential area catering for Singaporean buyers, Soam said.

The project will boast semi-detached houses and townhouses prices from RM600,000 and RM400,000 respectively.

It will also have bungalow lots, a golf course and a marina.
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Old September 8th, 2008, 01:11 AM   #23
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IJM Land: Call us a property supermarket
By Jeeva Arulampalam Published: 2008/09/08 BusinessTimes

IJM Land Bhd will rebrand itself this Thursday as a new corporate entity that aims to be a top tier local developer with geographically diversified projects in Malaysia.

The rebranding exercise comes as IJM Land has completed its rationalisation of IJM Properties into the former last Friday.

"With a streamlined and focused business now, we can call ourselves a property supermarket as we have high-end products in KLCC and low-cost products in other townships," IJM Land managing director Datuk Soam Heng Choon told Business Times in an interview.

IJM Land currently sits on an enlarged landbank of 4,253ha with a gross development value (GDV) of RM26 billion, after holding company IJM Corp Bhd combined property units RB Land Holdings Bhd and IJM Properties Sdn Bhd into one entity.

As a softening property market looms ahead, Soam said, IJM Land will focus on its positive markets such as Sandakan and Penang.

"In Sandakan, the market is still bullish as its driven by crude palm oil while in Penang, we are launching new projects like The Light which will propel us into bigger developments there," he said.

The Light development is divided into four phases including residential, commercial and mixed developments plus seafront facilities.

The first residential phase, the Light Linear and Light Point projects, will be launched by year-end. "This project will see a blend of the new and old Penang," said Soam.

For a challenging market like Johor Baru, Soam said, the company will work harder at selling units while tweaking its products to meet the current market needs. "We will focus on the medium to medium high-end markets and slow down on (developing new) mass housing projects under RM250,000," he added.

Soam said, to contend with rising material costs and a softening property market, IJM Land will target housing needs of specific market segments. "We are focusing on the Malaysia My Second Home programme and marketing our Penang Pearl Regency project overseas. We are doing a sales launch overseas targeting Koreans over the next two months and if the response is encouraging, we will then do this for our other products," he said.

On overseas development, its maiden project will be an upmarket residential and retail project in China's automotive city, Changchun, with a GDV of RM500 million.

"We are looking at other second tier cities in China while considering other emerging markets such as Vietnam. However, we have not set a timeframe," Soam said.
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Old November 7th, 2008, 04:21 PM   #24
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Location

THE LIGHT represents IJM’s pioneering challenge to showcase the biggest and the best in integrated waterfront living, with residential, recreational, entertainment, business, hospitality, education and commercial components all in one dynamic hub.

It will be the jewel in the crown for IJM Properties Sdn Bhd’s portfolio of achievements.



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Old November 10th, 2008, 07:15 AM   #25
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An artist’s impression of The Light
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Old December 2nd, 2008, 07:36 AM   #26
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The Light, Penang

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Artist impression of The Light Penang from IJM.
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Old December 3rd, 2008, 04:59 PM   #27
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posted by built_in_me
The Light Point



The Light Linear



The Light Collection 1



The Light Collection 2



The Light Collection 3



The Light Collection 4

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Old February 21st, 2009, 10:35 AM   #28
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Old March 2nd, 2009, 03:44 PM   #29
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Quote:
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Location

THE LIGHT represents IJM’s pioneering challenge to showcase the biggest and the best in integrated waterfront living, with residential, recreational, entertainment, business, hospitality, education and commercial components all in one dynamic hub.

It will be the jewel in the crown for IJM Properties Sdn Bhd’s portfolio of achievements.



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The site:
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Old April 29th, 2009, 12:29 PM   #30
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RM2bil projects to be launched
Saturday, March 28, 2009
By The Star (by David Tan)



An artist’s impression of The Light

Penang to see new development year-round

KUALA LUMPUR-BASED developers will execute projects with an estimated gross sales value of RM2bil on Penang island this year despite a challenging economic climate and price the new products competitively.

IJM Land Bhd, for example, is launching projects with estimated gross sales value (GSV) of RM350mil in the second and third quarter of 2009.

These are high-end sea-fronting projects comprising the RM200mil Light Linear, RM102mil Light Point, and the RM48mil Lots 28 located near the Jelutong Expressway.

The Light Linear consists of two 17-storey block of 328 condominiums on a 7.6 acre land, while the Light Point is a 28-storey block of 88 condominiums on a 2.8 acre site, and Lots 28 comprises 28 units of two and three-storey commercial and shop offices on a 2.6 acre site.

Pricing new property launches competitively does not mean lowering the selling price.

IJM Land Bhd managing director Datuk Soam Heng Choon says the group’s new properties would be priced competitively to reflect current construction cost, which in reality was still above the pre-July 2008 level.

“In reality, prices of construction materials are still high, with the exception of steel bars.

“To reduce the price further means to go for lower specification and finishes. “However, the flexible loan packages and other incentives thrown in by the developer will make the properties more affordable,” he says.

Soam adds that the group recently launched the RM174mil Summer Place condominium project, located at the Jelutong Expressway.

“About 40% of the 531 condominiums in Summer Place was taken up on the first two days of the recent soft launch,” he says.

C P Group is implementing its RM300mil BayVillas water project at the end of 2009 for its RM2bil Queensbay project in Bayan Lepas.

Its executive chairman Datuk Tan Chew Piau says the BayVillas comprises 76 waterfront bungalows, waterfront gardens, and garden villas, equipped with built-up areas ranging between 3,100 sq ft and 10,000 sq ft.

The entire project is guarded and has private swimming pool facilities and smart home features.

Tan says the group’s 335-room, Eastin Hotel located in Queensbay, will come on by the end of 2009.

“This will be the second hotel operating under the Eastin brand name,” he says.

Tan adds that the group is holding back the commercial project, BayCapital office suites, scheduled for launching in mid-2008, after the country succumbed to the global economic recession.

To date, CP Group has generated about RM600mil from the sales of its properties in Queensbay.

The largest project to take off the island this year comes from Mah Sing Group Bhd, which expects to launch its RM1.35bil Southbay Penang by mid-2009.

Group managing director and chief executive Datuk Seri Leong Hoy Kum says that the launch of the project would coincide with the completion of Southbay Penang’s showhouses.

Leong says the Southbay Penang had to date attracted more than 3,000 prospective buyers of which 70% had registered their interest for [email protected]’s superlink homes, and the rest registered their interest for Le[email protected]’s designer bungalows and Southbay City, the commercial precincts.

On the prices of Southbay Penang’s properties, Leong says the early registrants would still enjoy the old prices they signed up.

“We will not lower the prices but we will make it easier for buyers to own properties through our Easy Home Ownership scheme which has been very well received.

The Southbay Penang, comprising 376 units of landed residential properties and an integrated commercial hub, is scheduled for completion within seven years.
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Old May 6th, 2009, 03:25 PM   #31
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The RM5.2bil Light project to shine on IJM Land
Wednesday May 6, 2009
By ANGIE NG



An artist’s impression of The Light Waterfront Penang residential precinct

Waterfront development set to boost earnings

PETALING JAYA: IJM Land Bhd should see a boost in income with the launch of its flagship project, The Light Waterfront Penang, in the third quarter, analysts said.

The project has an estimated gross development value (GDV) of RM5.2bil. It has been scheduled for launch in the first quarter but was deferred when the property market softened under the pressure of the global recession.

Located on 61.5ha just off the Penang Bridge on the eastern coastline of Penang island, it will be developed in three phases over 12 years.

AmResearch said with the launch of The Light project, IJM Land’s three-year earnings compounded annual growth rate would be strong at 49% over financial years ending March 31, 2010 to 2012.

“The company’s annual sales are expected to rise from RM750mil in FY10 with the maiden launch of The Light Linear and The Light Point to more than RM1bil in FY11 with the launch of The Light Collection low-rise residences and sea-front bungalows,” it said in a report.

The research house’s earnings estimates are underpinned by unbilled sales of RM700mil and sales of IJM Land’s existing projects, including Seremban 2, S2 Heights, Taman Perling and Bandar Utama Sandakan.

The freehold integrated waterfront residential and commercial development of The Light will comprise 1,177 residences, including waterfront villas and condominiums.

The first phase of the residential series will be The Light Linear, comprising 328 units with built-up from 1,475 to 1,539 sq ft. With prices at around RM400 per sq ft, this phase will have a GDV of RM200mil.

The next phase, The Light Point, offers 88 condominium units with built-up from 1,830 to 4,090 sq ft at a GDV of RM100mil.

Priced around RM500 per sq ft, or an average of RM1mil a unit, the condos will have sweeping views of the Penang Bridge, the marina and George Town city.

Subsequent phases will be The Light Collection with GDV of RM600mil and sea-front bungalows worth RM300mil.

According to IJM Land managing director Datuk Soam Heng Choon, The Light represents the company’s initiative to showcase the best in integrated seafront living with residential, entertainment, business and hospitality in one dynamic hub.

For the project’s construction, IJM Land will leverage on its parent IJM Corp Bhd’s construction expertise.

IJM Corp is a contractor for several high-end condominium projects in the Kuala Lumpur City Centre (KLCC) area such as The Binjai and Commerce Asset’s headquarters in Jalan Raja Laut.

In its report, AmResearch said IJM Land had the attributes of a blue-chip proxy to the listed property sector.

This is given the potential enlargement of its market capitalisation and gradual improvement in its free float from future placements by parent IJM Corp.

“We understand from management that IJM Corp plans to gradually trim its holding in the property vehicle to 60% from the current 77% to promote greater institutional shareholding,” it said.

It added that the move would promote greater trading liquidity in IJM Land’s shares.

Also planned for launch in the third quarter is the Nusa Duta development on 127 acres in Iskandar Malaysia, Johor.

The RM320mil project will comprise mainly landed properties priced from RM300,000.
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Old May 17th, 2009, 09:23 AM   #32
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Quote:
Originally Posted by nazrey View Post
Location

THE LIGHT represents IJM’s pioneering challenge to showcase the biggest and the best in integrated waterfront living, with residential, recreational, entertainment, business, hospitality, education and commercial components all in one dynamic hub.

It will be the jewel in the crown for IJM Properties Sdn Bhd’s portfolio of achievements.



by budak



by @Dmateur

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by huybo02
http://www.flickr.com/photos/[email protected]/3537138302/

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Old June 10th, 2009, 08:40 AM   #33
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Quote:
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Quote:
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Old July 5th, 2009, 11:56 AM   #34
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Surge in luxury condo launches
Saturday July 4, 2009
By DAVID TAN

GEORGE TOWN: More than 600 high-end condominiums will be launched on Penang island before the year-end.

Although local property prices have not been significantly affected, the volume of transactions has dropped slightly since January.

At present, landed properties in Penang are still holding firm at RM600,000 to RM700,000.

Mid-end high-rise properties are still priced between RM300,000 and RM400,000 for a 1,000-sq-ft unit, depending on their size and location.

Henry Butcher Malaysia (Penang) vice-president Shawn Ong said to bolster sales during the current challenging property climate, zero interest financing packages introduced for purchasers by developers have worked quite well.

“The latest residential product is the ‘mini superb condominium’.

“It is dubbed ‘mini superb condo’ because of its size but they offer five-star facilities like normal super-condo projects.

“Prices range between RM500,000 and RM1mil, depending on their size, location, design, concept, and specifications,” Ong said.

The normal super condos are priced from RM2mil, have built-up areas of over 5,000 sq ft, and are located in prime locations such as Gurney Drive, Pulau Tikus and Tanjung Bungah.

Market prices for such properties on Penang Island had generally remained stable, Ong added.

“The up-market high-rise residential development trend on Penang Island has changed over time. Initially, these developments were more prevalent in the north-western and north-eastern parts of the island such as Pulau Tikus, Gurney Drive, Tanjung Tokong and Tanjung Bungah areas.

“However, due to the availability of relatively lower priced land, good population catchments and better accessibility (improved infrastructure), the focus moved towards the south of island, for example, along and off the Jelutong Expressway, Sungai Nibong, Bayan Lepas Expressway, and Bukit Jambul areas,” he said.

Ong said the demand for “mini superb condos” was expected to be encouraging given the sizeable young population in Penang and the higher household formation rate compared with the population growth.

“Affordability is today supported by low interest rates and the innovative easy payment schemes provided by developers.

“Investment interest in real estate is high given that alternative investments are less attractive today.

“Since the island has limited suitable land for development, most investors and house buyers are confident in the longer-term growth potential of such value-added residential properties,” he added.

Scheduled for launch by year-end are 568 mini superb condos by IJM Land Bhd’s The Light project, comprising The Light Linear, The Light Point, and The Light Collections schemes, located on a 16.8-ha freehold site off the Jelutong Expressway.

IJM managing director Datuk Soam Heng Choon said The Light would offer unique themes and facilities normally found in super-condo projects.

“The Light Linear project comes with fibre optic ICT infrastructure and a comprehensive range of home automation and recreational facilities, including a putting green.

“The unique features are the green concept and water features in all the properties,” he added.

The Light Linear units have built-up areas of 1,475 and 1,561 sq ft and are priced from RM522,000, or about RM354 per sq ft.

The Light Point and The Light Collection residences offer bigger built-up areas ranging from 1,371 to 4,090 sq ft.


“Their pricing starts from slightly below RM1mil, which is still lower than the price of normal super-condo units,” Soam said.

Another Penang-based developer, Tropical Hill Property Sdn Bhd, is scheduled to launch its mini superb condo project late this year.

The 22-storey Pavilion Tower on a 1-ha site in Teluk Kumbar comprises a block of 99 units with built-up areas of between 1,600 and 5,000 sq ft.

Tropical Hill Property managing director Datuk Loh Geok Beng said the units would be priced at about RM300 per sq ft.

“The low-density project, located close to the Penang International Airport and the Penang Bridge, is equipped with full recreational facilities including a swimming pool and community hall that can accommodate 500 people,” he said.
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Old July 9th, 2009, 12:21 PM   #35
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Set To Be An International Waterfront Icon




IJM Corporation Bhd’s recent unveiling of The Light Waterfront Penang or The Light in short, to be built on part of the 338 acres of reclaimed land along Penang’s eastern coastline, will have a major impact on the island state.

Its chief executive officer and managing director Dato’ Krishnan Tan said, “Not only will it showcase the biggest and the best in integrated waterfront living with residential, enter tainment, business, hospitality, education and commercial components in one dynamic city, the allure of the new and transformed township with The Light as its gateway, combined with Penang’s age-old and natural appeal, will make the island a unique destination."


“We look forward to developing this eastern corner of Penang island that we all know and love into a spectacular and elite destination that will have worldwide appeal in the years to come.”

This RM6.5 billion integrated waterfront development will comprise both residential and commercial components. It will be developed by Jelutong Development Sdn Bhd, a subsidiary of IJM Properties Sdn Bhd, which in turn is the property arm of IJM Corporation.

Spanning 152 acres, this project has gross development value of RM4 billion. It will be developed in three phases over 10 to 15 years, with phase one expected to be completed in 2012.

Covering 42 acres, phase one has been set aside for the development of six parcels of high-end waterfront residences totalling 1,186 units.

Phase two, encompassing 103 acres, will be developed into a commercial and retail city. The commercial city will include a gateway tower, family hotel, resor t hotel, boutique and spa hotel and high rise business hotel for business travelers.


Other components include an exhibition centre, signature offices and showrooms, banquet and conference facilities as well as a waterfront promenade with dining and enter tainment facilities. Also in place is a cultural hall, visitor centre and waterfront amphitheatre.

The retail sector will comprise shopping, enter tainment and dining facilities. It will have separate malls for the family, information technology, fashion and one that is called active mall.

There will be a waterfront dining and enter tainment district sited along the promenade. Other unique features include performances on a floating stage and a marina with water taxis and a floating restaurant.

Seven acres have been set aside for a seafront park under phase three of this project, which will soon join the big league of waterfront resor t-living icons such as London’s Canary Wharf, Melbourne’s Docklands, Sydney’s The Rock and Toronto’s Queens Quay.

As par t of IJM Corporation’s commitment to the environment, new trees will be planted along the eastern coastline where The Light project is located with two km set aside for a greenbelt.
Now... Penang's The Light!



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Old July 11th, 2009, 07:39 AM   #36
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Developers keen to resume launches
By SHANNEN WONG
11 Jul 2009

HIGH-end property developers are expected to resume their project launches in the coming months aided by strong take-up in the first half of the year and more positive outlook in the economic front.

At least two luxurious residences in Kuala Lumpur and five high-end residential projects in Penang will be unveiled soon. (See table)

“Given the warm response for some of the recent project launches, we understand more developers are planning to launch their high-end properties in Kuala Lumpur and Penang in second half of the year,” says HwangDBS Vickers Research analyst Yee Mei Hui.

Developers are now more confident about resuming launches than focusing on clearing inventories previously.

“We believe that the good response from the properties buyers is an indication that demand for high-end has started to return,” says Yee.

She says while there would be a large incoming supply of high-end condominiums, especially around the KLCC and Mont’ Kiara areas, over the next two years, these new launches generally have lower entry prices due to smaller built-ups and the availability of attractive housing loan packages, says Yee.

“These new launches offer attractive financing schemes such as low down-payments and minimal cash outflow up to two years until the property’s delivery,” she adds.

DNP Bhd will be launching Verticas Residensi condominiums in Bukit Ceylon in Kuala Lumpur priced at RM970 per sq ft.

There will also be the release of 163 high-end serviced apartments for RM1,300 to RM1,400 psf for semi-furnished completed units by the previous en-bloc buyer of Pavilion Residences Tower A.

In Penang, Eastern & Oriental Bhd (E&O) is expected to launch its Seri Tanjung Pinang high-end linked houses, serviced apartments and condominiums these few months.

“We understand E&O is looking to launch its Seri Tanjung Pinang high-end condominiums in September to October at RM600 to RM700 psf,” says Yee.

“It is also planning to launch the second block of the St Mary high-end serviced apartments at RM1,200 psf via international road shows starting in September,” she says.

When contacted by StarBizWeek, an official from E&O says the company will be making announcements on the official launches of its St Mary project within the next few weeks.

IJM Land Bhd will also be launching two of its projects in Penang, namely the Light Linear upper-mid condominiums located near the Jelutong Expressway, and Light Point high-end condominiums later this month and in October respectively.

E&O’s maiden launch of 169 units of St Mary residences in June, the first high-end launch since the fourth quarter of last year, saw a strong 80% take-up rate after a recent five-day preview.

“The sales were above the market’s expectations,” says Yee, noting that buyers were predominantly locals who bought mainly for investment purposes.

Located within the golden triangle district in KL, St Mary Residences were sold at an average price of RM900 psf.

Sky Residences

SP Setia Bhd will be launching its first luxury high-rise residential project, Sky Residences on Jalan Tun Razak, tomorrow.

The sale preview of SP Setia Sky Residences Tower B kicked off last September but were only opened for sale in January this year, in conjunction with the launch of its 5/95 home loan package.

“Close to 95% of our units in Tower B have been taken up. We are now previewing Tower A and will officially open it for sale tomorrow,” says president and chief executive officer Tan Sri Liew Kee Sin.

“This will be the group’s final official launch before the end of the 5/95 programme,” he says.

Given the strong bookings it has on hands, Liew says SP Setia is unlikely to extend its incentive schemes beyond this month.

“We will stop launching any more new products for a few months and concentrate on delivering what had already been sold,” he says.

SP Setia, the largest developer by market capitalisation and sales, has been offering 5/95 home loan package and no interest payments during construction since January to give a boost to the company’s sales.

As of 30 June, SP Setia sales touched RM1.04bil, close to its full-year target of RM1.1bil for financial year ending Oct 31, 2009.

SP Setia has cash reserves of RM551mil and a net gearing of 0.23 times.

Sunrise bookings

Niche high-end developer Sunrise Bhd is among the developers who have benefited from the introduction of attractive incentive schemes.

“Our new bookings have soared to over RM242mil for Mont’ Kiara 11 condominiums and Residence bungalows from our promotion for both projects from March to June this year,” says an official of the company.

Mont’ Kiara 11 residences and the Residence bungalows are priced at an average selling price of RM850 psf and from RM5mil each respectively.

Following the introduction of the 10/90 financing schemes and zero payment up to two years of delivery promotion, Sunrise’s bookings have picked up since mid-March.

In fact, the collective sales for both projects within the first month of promotion have been catching up on its cumulative sales of RM247mil for the first nine months.

Yee of HwangDBS says about 47% of the company’s RM965mil unbilled sales (excluding the new bookings of RM242mil) will deplete by this year-end with the completion of Mont’ Kiara 10 and Solaris Dutamas.

“Sunrise needs to launch new projects in order to replenish its unbilled sales,” she says.

In response to this, the company’s spokesperson says, “It’s too premature to say when we will have our next launch. We are watching the economy right now.”

“Nonetheless, we have comfortable gearing, ample landbank and a pipeline of new projects to be launched, depending on market conditions.”

Sunrise, the largest prime landowner in Mont’ Kiara, is expected to launch its RM732mil Mont’ Kiara 28 condominiums with selling price of RM670 psf in early 2010.

Other launches in the pipeline are its Mont’ Kiara 20 mixed development and Lot 121 Solaris Office Tower. The former has a gross development (GDV) of RM767mil while the latter has a GDV of RM455mil. Both projects has an average selling price of RM700 psf.

Meanwhile, Sunrise will also have RM336mil of completed properties available for sale, which will underpin its earnings until end-2011, says Yee.

On the outlook for the company, the spokesperson says, “The outlook ahead will remain challenging. Much will depend on the strength of the recovery. But the worst is behind us.”

He says the low interest rates and the lack of new launches over the past year as well as the expectation of rising inflation will underpin property demand in the near future.

[email protected]

Mah Sing Group Bhd managing director and group chief executive Tan Sri Leong Hoy Kum says the company hopes to bring forward the soft launch of its [email protected] in Penang to the second half of this year.

“We have not held back any launches due to the strong take-up for our products. In fact, we may bring forward some launches,” he says.

The group plans a soft launch of the first 15 units of its [email protected] Southbay bungalows with some GDV of RM30mil sometime in the second half. The whole project consists of 76 units with total GDV of RM284mil.

“We are looking to bring forward the launches of our [email protected] due to the overwhelming response for our three-storey super link project [email protected],” he says.

To date, Mah Sing has sold about 89% of its launched units in [email protected] Since its launch in May, it registered cumulative sales of 177 units valued at RM149.15mil.

“We have exceeded our 2009 sales target for this project by 60%, and this boosted our confidence that the market in Penang is receptive to our product concept and value proposition,” says Leong.

For the first half, Mah Sing launched seven property projects worth RM315mil, meeting 80% of the company’s full-year launch target of RM394mil.

Leong says the company has achieved approximately 70% of its full-year sales target of RM453mil within the first half of the year.
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Old July 20th, 2009, 08:40 PM   #37
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Old July 22nd, 2009, 05:38 AM   #38
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Penang group secures RM2bil in building material contracts
Wednesday July 22, 2009
By DAVID TAN

GEORGE TOWN: Over RM2bil worth of contracts to supply building materials have been secured by about half of the Penang Master Builders and Building Materials Dealers Association’s (PMBBMDA) 117 members so far this year.

President Finn Choong said the materials included essential building blocks such as steel, cement and other aggregates for residential projects in Penang.

“These contracts do not include materials for interior decoration. They only involve PMBBMDA members,” Choong told StarBiz.

Works on the second Penang bridge did not require raw materials from its members at the moment, he said.

He added that the bridge will require supplies from our members when the piling and concrete works begin.

“The contracts to supply materials such as steel, cement, crusher run and premixed bitumen (for the bridge) should be worth a further RM1bil.”

Meanwhile, PMBBMDA secretary Ong Soo Yong said the forthcoming commercial and residential projects, such as the First Avenue Shopping Mall, Cititel Express and IJM’s The Light Linear, should generate demand for interior finishing products from local building material suppliers.

“The Kuala Lumpur-based developers in Penang tend to source essential building blocks from suppliers in Kuala Lumpur and not from our members.

“For such projects, our members can look forward to supplying interior finishings,” he said.
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Old July 28th, 2009, 09:00 AM   #39
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Old July 28th, 2009, 10:20 AM   #40
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nice post dude...



simulation de credit
rachat simulateur
- vous n’avez à aller très
loin pour une simulation de rachat de crédit
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