HILIR 233@JALAN AMPANG

[rizalhakim]

[rizalhakim]

13/1/08

[rizalhakim]

FROM MALAYKOREA.COM

[rizalhakim]

http://www.fnproperties.com.my/ah233/

[ZaHiRnYa???]

any date when the construction going to start??

[cyclo7]

I'm interested in this property, anyone know the price per unit?

[Leeigh]

aw man...another boring achitecture...

[rizalhakim]

to be launch mid this year....

[rizalhakim]

F&N to pay RM56m for Ampang Hilir 233
Published: 2008/06/28




FRASER & Neave Holdings Bhd via its unit, Elsinburg Holdings Sdn Bhd, has accepted a conditional offer to purchase from an independent third party the Ampang Hilir 233 project for RM55.8 million.

The project consists of two freehold parcels of development land at Jalan Ampang together with a development order and approved building plans for two blocks of serviced apartments, signature offices and retail outlets.

Upon the completion of the sale over the next six months, F&N is expected to derive pre-tax profit of RM26.5 million after deducting related expenses. - Bernama

[rizalhakim]

F&N ACCEPTS CONDITIONAL OFFER TO BUY PROJECT

Fraser & Neave Holdings Bhd via unit Elsinburg Holdings Sdn Bhd has accepted a conditional offer to purchase from an independent third party the Ampang Hilir 233 project for RM55.8mil.

The project consists of two freehold parcels of development land at Jalan Ampang together with a development order and approved building plans for two blocks of serviced apartments, signature offices and retail outlets.

Upon the completion of the sale over the next six months, F&N is expected to derive pre-tax profit of RM26.5 million after deducting related expenses. – Bernama

[mkw]

Hi, I pass by the site for this project and notice that they are doing site clearing! Did anyone know when the developer is going to launch this project?!

[rizalhakim]

juz 4get it

[rizalhakim]

[patchay]

M Suites @ Jalan Ampang

Originally Posted by patchay

Mah Sing buys the proposed "Ampang Hilir 233" land
LATEST: Mah Sing acquires more land to roll out M Suites
By E. Jacqui Chan of theedgeproperty.com
Thursday, 22 April 2010 20:57


KUALA LUMPUR: Mah Sing Group Bhd is buying a parcel of freehold commercial land on Jalan Ampang here for RM53.8 million (or RM857 psf) on which the developer is rolling out its new brand of mid to high-end serviced apartments and condominiums called the M Suites.

Announcing this on April 22, Mah Sing said its wholly-owned subsidiary Star Residence Sdn Bhd has entered into a sales and purchase agreement with Elsinburg Holding Sdn Bhd, a wholly-owned subsidiary of Fraser & Neave Holdings Bhd, to acquire the 1.44-acre tract which has received approval for development.

M Suites@Jalan Ampang will comprise two blocks of serviced residences, likely to total more than 500, with an estimated gross development value (GDV) of RM257 million.

To make them affordable, the units will be sized from 430 to 1,150 sq ft and are likely to be tagged at RM350,000 onwards. Buyers will also have the option to have these fully furnished.

The project will be complemented by a limited retail component, with the outlets located on the ground floor. Recreational facilities will include a swimming pool and a podium roof garden.

Since the project has already received the development order, Mah Sing is wasting no time to turn the project around – it is already calling for registration of interest. Construction is expected to start in 2H2010.

“Given its freehold status and the scarcity of land in this very strategic location, we believe the land cost is attractive,” said Mah Sing group managing director and CEO Tan Sri Leong Hoy Kum.

“The land has a development order. This fits in nicely with our model of quick turnaround for niche projects,” he added.

This is the developer’s third land acquisition this year.

Including M Suites@Jalan Ampang, the group has a total of 26 projects with remaining GDV and unbilled sales of about RM6.2 billion – all strategically located in the economic and property hotspots of the Klang Valley, Kuala Lumpur, Penang Island and Johor Bahru.

Mah Sing said it has achieved sales of RM516 million in 1Q2010 against the whole year target of RM1 billion sales.

Also, read: Fraser & Neave to gain RM21.98 million from Ampang land sale





Related News: Fraser & Neave to gain RM21.98 million from Ampang land sale
By Joseph Chin of The Edge Financial Daily
Thursday, 22 April 2010 21:01

KUALA LUMPUR: Fraser & Neave Holdings Bhd (F&NHB) expects to gain RM21.98 million for the sale of 1.44 acres of partly developed land along Jalan Ampang here for RM53.8 million.

F&NHB said on Thursday, April 22 the freehold land is being disposed of to Star Residence Sdn Bhd (of Mah Sing Group).

"The proposed disposal would enable the F&NHB group to immediately realise the profit from the disposal. Elsinburg has todate incurred a total development expenditure of RM28.06 million including land cost.

"It is estimated that upon the successful completion of the proposed disposal, the F&NHB group will derive a gain of RM21.98 million after deducting all fees, costs and expenses related to the proposed disposal," it said.

F&NHB said the proposed disposal of the land was together with a development order and approved building plans for two blocks of serviced apartments, signature offices and retail outlets, collectively called "Ampang Hilir 233 Project".

[rizalhakim]

Mahsing the mos agresive developer 4 2010

[patchay]

Originally Posted by rizalhakim

Mahsing the mos agresive developer 4 2010

most aggressive, more coming.... cant say much coz a client of my firm.....

[patchay]

Company Update - Mah Sing Group Berhad: 26 April 2010
By Inter-Pacific Research
Monday, 26 April 2010 13:21

Highlights:

. Proposed acquisition of a prime freehold land: Mah Sing proposition to purchase the piece of land in Ampang, Kuala Lumpur measuring approximately 1.44acres was made through its wholly owned subsidiary, Star Residence Sdn Bhd. The land value was appraised at about RM857.32 per sq ft or total purchase sum of RM53.8mn.

. Strategic location: The land is located at the core of Central Business District (CBD), fronting the main road of Jalan Ampang, KL next to Great Eastern Mall and adjacent to the prestigious Embassy Row. The notable landmark will be KLCC, Pavilion and Ampang point shopping centre, which are just a stone throw away. Other nearby amenities includes 3 international schools, Gleneagles Intan Medical Centre and Ampang Puteri Medical Centre.

. Plan to develop into a service residence i.e. M Suites@Jalan Ampang with an estimated GDV of approximately RM257mn: The ‘M Suites’ will now be Mah Sing’s new brand series. It will offer between mid to high end service residences and condominiums, with its size ranging from 400 sq ft to 1,150 sq ft. Such small/medium sized upmarket serviced residences should be appealing to the increasing cosmopolitan lifestyle of local urban Malaysians and foreigners who intend to live near the KLCC Park.

With pricing at RM300K onwards which translates into RM750psf and planned total units of about 500, we can expect an overwhelming take up rate. The proposed development should kick start in 2H10.

. Outperform: We had revised downwards our RNAV per share to RM2.21 per share after taking into account of their enlarged share capital following the recent 1 for 5 bonus issues. We like Mah Sing for their good track record. YTD they have sold RM516mn of their RM1.0bn target sales in 2010. Garden Residences, Perdana residences 2, Iparc Bukit Jelutong and Starparc Point contributed 93.5% total sales achieved. We believed they are well in line to achieved RM1bn sales target. We recommend Outperform with our target price at RM2.20 based on PER of 13X and EPS of 17sen.

[rizalhakim]

official website
http://www.m-suites.com.my

price from rm399k to rm867k
size from 431sqft to 1152sqft

wow....manyak mahal ooooo!!

[rizalhakim]

[rizalhakim]