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Old September 24th, 2008, 01:03 PM   #1
Greg
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TIERRA CREST | Petaling Jaya ( Kelana Jaya ) | 17 fl | Completed (2013)



Already spotted earlier on by rizalhakim. Made now own thread with render.

09-06-2008: Crest Builder mulls REIT, overseas foray
by Chong Jin Hun
Email us your feedback at fd@bizedge.com


PETALING JAYA: Crest Builder Holdings Bhd plans to develop more commercial properties in the Klang Valley to boost recurrent rental income, which may eventually prompt it to set up a real estate investment trust (REIT).

Geographical diversification is also on the cards. Locally, with some RM1.3 billion worth of outstanding construction jobs, Crest is considering a foray into Johor. Overseas, it hopes to establish bases, possibly in Singapore, Vietnam and Middle Eastern countries such as Qatar and Oman.

“In the next three to five years, if we have another three or five more office blocks, perhaps we could set up our own REIT,” Crest executive director Eric Yong Shang Ming told The Edge Financial Daily in an interview.

Recurrent rental income is deemed pivotal for construction and property development firms like Crest to safeguard earnings against cyclical income in both sectors.

“Ultimately, we want to go overseas. It’s just that we are waiting for the right time. We do not want to go looking overseas when we are hungry and desperate,” Yong said. As a building contractor, main board-listed Crest builds properties in Malaysia for local and foreign developers.

Its real- estate division has completed its maiden project - the “3 Two Square” in Section 14, Petaling Jaya. The commercial property sits next to “The Crest” office tower which accommodates the firm’s headquarters.

Upcoming projects by the property division include the “Tierra Crest”, a 17-storey office project in Kelana Jaya, and a mixed project known as “Alam Hijau” in Batu Tiga, Shah Alam. Tierra Crest, intended to be leased out, will have a gross development value of about RM130 million, according to Yong.

Alam Hijau is a five-phase project that comprises apartments, offices, and retail outlets. Phases 1 and 2 medium- cost apartments have been entirely sold to Syarikat Perumahan Negara for RM147 million.

Meanwhile, Crest’s outstanding construction orders of around RM1.3 billion from external real-estate clients, include unbilled sales of some RM700 million, according to Yong. The unbilled portion is expected to sustain earnings for the next two years.

By December, the current RM1.3 billion orderbook is anticipated to balloon to RM1.8 billion in anticipation of more jobs. So far this year, Crest has tendered for RM1.5 billion worth of jobs and secured about RM400 million.

In 2007, it had bid for RM2.5 billion worth of projects and won some RM160 miliion, Yong said. Going forward, Crest’s established business links with foreign developers may offer a possible platform for the Malaysian firm to export its expertise.

On Crest’s potential ventures in Vietnam and the Middle East, Yong said the company could form joint ventures with local parties in the respective countries, deemed high-growth construction and property markets.

In a note dated Feb 27 this year, Inter-Pacific Research Sdn Bhd analyst Koay Yi Chuan said although Crest’s construction division had recorded declining margins in the previous quarters, the margin is expected to improve in fiscal 2008.

This will be helped by more building contracts whose values are based on the upward revision in prices of building materials. “Crest is poised to post strong earnings from its property developments coupled with anticipated improving construction margins ahead,” Koay said.
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Old September 24th, 2008, 01:30 PM   #2
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Is Kelana Jaya part of PJ? I am a bit confuse, maye should have posted this in PJ construction thread. I'm bodoh
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Old September 24th, 2008, 01:37 PM   #3
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Of coz Kelana Jaya is part of PJ bro!

Petaling Jaya, Selangor

- Damansara Utama,
- Damansara Jaya,
- Kelana Jaya,
- Section 14,
- Taman Megah,
- SS2,
- SS3,
- SEA Park,
- PJ New Town
- PJ Old Town.
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Old September 25th, 2008, 08:06 AM   #4
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Old September 25th, 2008, 08:21 AM   #5
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image hosted on flickr
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Old June 13th, 2010, 09:14 AM   #6
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Mr Eric, this prroject will start soon?
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Old June 13th, 2010, 07:31 PM   #7
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yes piling already completed.

Now we are in the midst of negotiations with an en-bloc buyer. Will let u know.
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Old December 20th, 2012, 11:36 AM   #8
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Can see this rising fast from Kelana Jaya skyline

TIARA CREST @ KELANA JAYA
Developer: Crest Builder
Anchor tenant: UNITAR

UNITAR, whereby the university will be leasing approximately 85% of the total lettable area of 280,000sq.ft of Tierra Crest. UNITAR expects to occupy the building by June 2013 after the completion of the development by the first quarter of 2013.

From Eric Yong >>> http://fromthepenthouse.blogspot.sg/...t-updates.html





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Old March 29th, 2013, 05:07 AM   #9
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Unitar’s new Kelana Jaya campus to open in April

Posted on March 29, 2013 - Property News.


Crest Builder Holdings Bhd’s Kelana Jaya commercial project, Tierra Crest, is set for completion in April.

Located behind Kelana Jaya’s police station and Telekom Malaysia building, it will house 6,000 new students across the various faculties of its main tenant, Unitar International University.

Unitar International, which has also previously been known as UMTech and Unirazak, will commence its first student intake at its new premises in August or September.



It will be leasing this space out from Crest Builder on a 3+3 years’ lease with an option of extending for three more years.

According to Crest Builder’s executive director Eric Yong, retail space is still available at Tierra Crest, with spaces ranging from 160 to 4250 sq ft.

“We still need a lower-range F&B outlet,

More: http://www.starproperty.my/index.php...n-kelana-jaya/
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Old June 1st, 2013, 04:52 PM   #10
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Tierra Crest @ Kelana Jaya
- as at 1st June 2013



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Old June 3rd, 2013, 04:40 AM   #11
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not bad...
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Old August 18th, 2013, 10:18 AM   #12
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Food Republic is coming in apparently.

Others include Marrybrown, Delifrance and a Mamak chain.
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Old August 18th, 2013, 04:44 PM   #13
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wow..look good just like in the rendered image.
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