daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > World Development News Forums > Highrises > Proposed Highrises



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old November 27th, 2008, 06:21 AM   #1
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

KUALA LUMPUR | Menara YNH | 50 fl x 2 | Pro

Menara YNH
Architect : Norman Foster
Floor Count: 45

image hosted on flickr

Last edited by nazrey; June 11th, 2009 at 02:06 PM.
nazrey no está en línea   Reply With Quote

Sponsored Links
Old November 27th, 2008, 06:22 AM   #2
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

YNH in talks to sell remaining proposed tower
Wednesday January 16, 2008
By DAVID TAN

PENANG: YNH Property Bhd will soon be selling the other 50% of the proposed 45-storey Menara YNH at Kuala Lumpur’s Jalan Sultan Ismail, group corporate services head Daniel Chan said.

Another reputable overseas buyer was currently considering purchasing the balance 50% of the tower block and an announcement would be made once the sale was concluded, he told StarBiz yesterday.

In an announcement to Bursa Malaysia on Tuesday, YNH said the group had accepted an offer from Kuwait Finance House (Ma) Bhd to purchase an en bloc interest equal to 50% of the proposed building comprising two wings on a luxurious retail podium for RM920mil.

“We are delighted that Kuwait Finance House, a global Islamic financial house, has selected Menara YNH as part of its investment in Asia.

“This attests to the exclusive business address where the tower block is located, which is in a prime business district within walking distance to public transportation, a prestigious five-star hotel like Shangri-La Hotel, upmarket office space and shopping centres in the Golden Triangle,” Chan said.

Each floor of Menara YNH has a floor plate of 55,000 sq ft, which is among the largest in the world.

Menara YNH also has a total net lettable area of about 1.2 million sq ft, making it one of the biggest in Malaysia.
nazrey no está en línea   Reply With Quote
Old November 27th, 2008, 06:23 AM   #3
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

YNH sells 50% of Menara YNH for RM920m
16-01-2008:

KUALA LUMPUR: YNH Property Bhd’s sub-subsidiary, YNH Land Sdn Bhd, is selling 50% of Menara YNH to Kuwait Finance House (Malaysia) Bhd (KFHMB) for RM920 million, YNH said yesterday.

In a statement, YNH said YNH Land had accepted an offer from KFHMB to purchase the en-bloc interest of 50% of the proposed 45-storey office tower. It said the sale and purchase agreement would be formalised at a later date.

Sited on a three-acre land in the Golden Triangle here, Menara YNH is a 45 storey-single iconic office tower with two wings that sit on a premier retail podium.
nazrey no está en línea   Reply With Quote
Old November 27th, 2008, 06:24 AM   #4
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

YNH appoints architects for building
Tuesday April 1, 2008 By DAVID TAN TheStar

PENANG: YNH Property Bhd has appointed Foster & Partners as architects for the group’s RM1.8bil Menara YNH in Kuala Lumpur's Golden Triangle.

“We made the appointment because our buyers for the project have indicated that they wanted an internationally-renowned architect for the building.

“The rationale is to add value to the project,” group corporate services head Daniel Chan told StarBiz.

Britain-based Foster & Partners, appointed last week, has high-profile projects in Germany, South Korea, Hong Kong, France and Malaysia.

The company designed the London headquarters of global insurance company Swiss-Re, Hongkong and Shanghai Bank's head office in Hong Kong, Hong Kong International Airport - touted as the world’s largest airport - and London’s third airport, Stansted.

It is currently designing Daewoo Electronics' headquarters in South Korea, and Vivaldi Tower in Amsterdam, the Netherlands.

Sir Norman Foster, the 1999 Laureate of the Pritzker Architecture Prize, is chairman of Foster & Partners.

Chan said the iconic Menara YNH would have a luxurious retail podium equipped with energy-saving features. The 45-storey building will have more than 55,000 sq ft of built-up area per floor, and a total of 1.2 million sq ft of lettable space.

Early this year, the group announced an offer from Kuwait Finance House to buy 50% of Menara YNH for RM920mil.

Investors from Australia and Singapore are currently considering acquiring the remaining 50% of the project.

On the group’s project in Mont Kiara, Chan said YNH Property would launch the RM680mil D’Kiara Place, at the end of the second quarter.

The project, comprising serviced apartments, an office block and a retail centre, is located near Plaza Mont Kiara, a landmark business and commercial complex.

In a recent report, ECM Libra Investment Bank said YNH Property has one of the highest unbilled sales in the country.

It said with half of Menara YNH for RM920mil, YNH's unbilled sales of RM1.2bil was one of the largest in the country, more than four times its 2007 revenue of RM290mil.

This means that the group has locked in 40% to 50% of its earnings before interest and tax for financial years 2008 and 2009.
nazrey no está en línea   Reply With Quote
Old November 27th, 2008, 06:26 AM   #5
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

YNH May Sell Half of Foster Tower for $370 Million
16.05.2008

YNH Property Bhd. is seeking as much as 1.2 billion ringgit ($370 million) by selling in advance half of a tower being designed by Norman Foster for Kuala Lumpur in the Malaysian capital's biggest commercial property transaction.

YNH is in talks with a ``big property player'' in Hong Kong, an Australian fund and a Singaporean investor, Daniel Chan, head of corporate services at the Ipoh, Malaysia-based company, said in a phone interview. He declined to identify potential buyers. The company sold the first half of the development in January to Kuwait Finance House (Malaysia) Bhd. for 920 million ringgit.

``There's been very little supply of Grade A buildings in Kuala Lumpur,'' said Ong Choon Fah, regional head of research at DTZ Debenham Tie Leung, a property consulting company. ``It helps to have a `starchitect,' and Foster is a global brand.''

Developers including YNH, Sunway City Bhd. and Mah Sing Group Bhd. are increasing sales to foreign investors as rising Kuala Lumpur office rents push up returns on properties. Malaysia, the world's second-largest palm oil exporter and Southeast Asia's second-biggest oil producer, is benefiting from high fuel prices.

Shares of YNH jumped 14 sen, or 6.6 percent, to close at 2.25 ringgit on Malaysia's stock exchange, the biggest advance since April 25. The stock has fallen 17 percent this year.

YNH expects to get 30 percent more for the second half of the 45-story development than its sale of the first half because of a shortage of best-quality office space in Kuala Lumpur and Foster's reputation, Chan said.

http://eng.arendator.ru/articles.php?type=1&id=852
nazrey no está en línea   Reply With Quote
Old November 27th, 2008, 06:27 AM   #6
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

YNH struggles with RM2.1b Foster tower
Published: 2008/10/22

The developer is delaying completion of the RM920 million sale of the first half of the 45-story office development to Kuwait Finance House (Malaysia)

YNH Property Bhd is delaying the sale of part of a RM2.1 billion (US$600 million) tower being designed by Norman Foster as the global credit crisis threatens the Malaysian capital’s biggest commercial property transaction.

The company may scrap plans to raise as much as RM1.2 billion by selling half of the project and is in talks with funds from Singapore, Hong Kong and Japan on a venture to help complete development of the tower, said Daniel Chan, head of corporate services at the Ipoh, Malaysia-based company.

“People are more cautious and want lower pricing,” Chan said in an interview yesterday. “This global problem will definitely affect Malaysia. It would be foolish to say we will be shielded.”

YNH stumbled in attempting to carry out Kuala Lumpur’s biggest commercial transaction as the global credit crisis threatened to tip the world into recession. Malaysia’s government said October 20 it expects slower-than-expected growth next year as the US and Chinese economies cool.


The company is delaying completion of the RM920 million sale of the first half of the 45-story office development to Kuwait Finance House (Malaysia) Bhd, agreed to in January, because of design changes, Chan said.

London-based architecture firm Foster & Partners, which designed the Beijing Capital International Airport’s newest terminal and “The Gherkin” skyscraper in London, was appointed in March to design the Kuala Lumpur tower.

Supply Glut Looms

Malaysian real estate prices may stall as the supply of office space will increase from 2010, said Mervin Chow, an analyst at OSK Research Sdn Bhd.

“A lot of supply will hit the market in Kuala Lumpur, so I’m not to sure whether they can demand a good price by that time,” he said. “Supply is going to come in by the end of this year and the momentum is going to peak by 2011. The dynamics of supply and demand by that time is not going to be favorable for developers.”

There will be an additional 24.8 million square feet (2.3 million square meters) of office space after 2010, compared with existing capacity of 56.8 million square feet, Chow said.

Malaysia Slowing

Malaysia will cut its 2009 economic-growth forecast on November 4, from the current estimate of 5.4 per cent, Finance Minister Datuk Najib Razak said on October 20.

The developer is negotiating with funds that may take a 20 per cent stake in a venture to develop the tower. Investing in a venture will allow the funds to receive earnings from rents while they wait for property markets to recover. They may then sell the building to a real estate investment trust, Chan said.

They “will have the ability to sell the second block to a REIT, that’s what they have proposed to us,” he said. “It’s still in early stages of discussions.”

YNH in January agreed to sell the first half of the development to Kuwait Finance.

The sale will be completed by year-end, later than planned, so the buyers can “make sure everything is right,” Chan said.

The Grade A tower in Malaysia will have a retail podium and two office wings with total lettable space of 1.2 million square feet (111,000 square meters).

Shares of YNH have fallen 54 per cent this year, outpacing the 37 per cent slide in the benchmark Composite Index.

YNH plans to increase 2009 profit by 20 per cent to as much as RM120 million next year, based on RM300 million of sales.

“We are very cautious, we now like to be more conservative in what we are doing,” Chan said. “If we are able to achieve our targets, it will be a bonus for us.” - Bloomberg
nazrey no está en línea   Reply With Quote
Old June 11th, 2009, 02:11 PM   #7
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

Keen interest prompts latest YNH launch
By DAVID TAN

It targets to unveil RM1bil Kiara 163 suites next month

YNH Property Bhd is targeting to officially launch its RM1bil Kiara 163 suites, a mixed development project in Mont’ Kiara, Kuala Lumpur, next month.

The project comprises a 23-storey office tower (175,000 sq ft), two 42-storey serviced apartment blocks (595,000 sq ft), retail podium (142,000 sq ft), and an auditorium (175,000 sq ft).

“We are launching the project due to keen interest from prospective local and foreign purchasers and also due to its prime location.

“There are always investors who look at property investment as a good hedge against inflation.

“We have secured about RM260mil in sales for the office and retail space to-date,” said group corporate services head Daniel Chan.

Chan said that to add value to Kiara 163, the retail podium and serviced apartments had eye-catching architectural designs and recreational facilities.

The two 42-storey serviced apartment blocks had a unique curved block design that was accentuated by the extensive use of glass windows, he said.

“The apartments will be equipped with facilities such as a swimming pool, jacuzzi, a gym, squash court with garden setting, and an entertainment pavilion,” Chan added.

The four-level retail podium is positioned as a neighbourhood retail centre catering to affluent expatriates and the local population.

“Food and beverage outlets, a supermarket, specialty stores which deals in fashion, eyewear and watches as well as service providers, including laundry outlets and medical and dental clinics, are on our list of retailers.

“The unique feature of the retail podium is the sunken outdoor courtyard where the food and beverage outlets will be located,” Chan said.

The office tower block, which would provide an alternative to corporate headquarters that did not require a city centre address, was also designed to accommodate small home-office units, Chan added. “This would help us tap into diverse markets,” he said.

The group’s other mixed-development projects, Duta Kiara 1, Duta Kiara 2, Duta Kiara 3, Duta Kiara 5, Duta Kiara 6 and Project 3KL, located in Mont’ Kiara, Hartamas and Kuala Lumpur city centre, would be launched over the next two years, Chan said.

These projects have a total gross development value (GDV) of about RM2bil.

“Our projects in KL and Mont’ Kiara, such as the Fraser Place KL and Ceriaan Kiara, have been well received with Fraser Place KL achieving sales of about 99% and Ceriaan Kiara 87% to-date,” said Chan.

Fraser Place KL is scheduled for completion soon, while Ceriaan Kiara will be ready by end-2009.

In Manjung the group’s “bread and butter” township development will continue to contribute to earnings for the next 20 to 30 years due to the demand from employees of the Lumut Naval Base as well as workers at the oil and gas fabrication and biodiesel plants there.

On the status of Menara YNH, the group had accepted Kuwait Finance House’s offer to buy 50% of the iconic “Grade A” office tower in January, Chan said.

“This property, located in the central business district, is designed by a world-renowned architect firm, Fosters and Partners.

“We are not in a rush to sell the second block as we want to get the best value for our shareholders.

“Based on our earnings before interest, tax, depreciation and amortisation of 50%, we are able to achieve a yield of above 7.20% if the rental is conservatively priced at RM3.80 per sq ft,” he said.

Chan said the company’s dividend policy was at least 30% of profits but the group had paid a higher rate in the past few years.
nazrey no está en línea   Reply With Quote
Old January 7th, 2010, 07:51 AM   #8
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

Work on Menara YNH to start in 6 months
By ANGIE NG January 4th, 2010

Current amendments to boost tenant space by 15%

PETALING JAYA: YNH Property Bhd expects within the next six months to start work on its proposed Menara YNH project on three acres next to the Shangri-La Hotel along Jalan Sultan Ismail, Kuala Lumpur.

Although Kuwait Finance House Bhd (KFH) had two weeks ago aborted its plan to purchase one of the two office blocks at Menara YNH, YNH said it would proceed with building the project.

KFH had early last year offered to buy a 50% interest of the office component of Menara YNH from YNH Land Sdn Bhd. YNH Land is a unit of Kar Sin Bhd, which in turn is a wholly-owned subsidiary of YNH Property.

YNH head of corporate strategy Daniel Chan said the company was currently making some amendments to the project design to improve efficiency of tenant space by 10% to 15%.


The green project, built according to specifications of the Green Building Index, will have total net lettable space of 1.5 million sq ft.

“We will be resubmitting the amended project plan for approval. The development order was obtained last December,” Chan told StarBiz.

Chan said the project was within the company’s target and would be completed in five years.

The project will have two 45-storey office blocks with 600,000 sq ft of net lettable space each to be built on top of a three-storey retail podium.

The gross development value (GDV) of Menara YNH will be around RM2bil or averaging about RM1,500 per sq ft.

Chan said work on the retail podium would kick off first and would be completed within three years.

A group of local and foreign investors had early last year signed a sale and purchase agreement for the 300,000 sq ft of retail space for RM300mil.

On whether the company was looking for other buyers for the other parts of the project, Chan said: “We are not in any hurry to sell unless a good offer turns up. So far, we are talking to a few interested parties. With the strategic location of the property, we are confident of good interest and sealing a good deal.”

YNH would keep its options open, he said, adding that various parties had offered to team up as joint-venture partners for the project or buy over the property.

“We are optimistic of the project as its value has appreciated. When the project was first mulled three to four years ago, its GDV was only RM1bil but, today, its value has doubled,” he said.

Before KFH, CapitaLand Ltd of Singapore had more than two years ago agreed to a 40% share in a joint venture with YNH for the project but the deal fell through over disagreement in the land cost.

On prospects ahead for YNH, Chan said the Sitiawan-based property company had projects worth RM11bil over the next 15 to 20 years, and YNH also had unbilled sales of RM856mi from its existing projects that would be realised over the next three years.

This year, the company has lined up project launches worth some RM3bil, including Menara YNH.

The Fraser Residence KL mixed development, comprising serviced apartments, office and retail space, behind Renassisance Hotel with a GDV of RM550mil will be launched in June.

Another mixed development, the RM900mil Kiara 163 (formerly known as D’Kiara Place) located beside Plaza Mont’Kiara, will also have serviced apartments, office and retail components.

Chan said another prime project to look out for would be located on 100 acres near Resort World in Genting Highlands. The mixed development with a GDV of RM2bil will be launched in 2011 for completion in 10 years.

For the financial year ended Dec 31, YNH’s earnings should take a hit from the slow property market and deferment of project launches caused by the global financial crisis.

“Next year (2010) should be a better year and we certainly look forward to a double-digit growth,” Chan added.
__________________
Malaysia Photo Gallery - Click Here for Malaysia Galleries
City & Town - | Kuala Lumpur | Penang | Malacca | Putrajaya | Cyberjaya | Langkawi
Alor Setar, Ipoh, Johor Bahru, Kangar, Kota Bahru, Kota Kinabalu, Kuantan, Kuala Terengganu, Kuching, Seremban, Shah Alam, etc!
nazrey no está en línea   Reply With Quote
Old July 24th, 2012, 10:35 PM   #9
Arvel666
Registered User
 
Join Date: Jul 2012
Posts: 4
Likes (Received): 0

It is the general observation and the latest research work that the entire world has the best market for the sake of the business.But keep in your mind that new stocks has recently.
__________________
shareholder conflicts

Last edited by Arvel666; July 26th, 2012 at 09:09 PM.
Arvel666 no está en línea   Reply With Quote
Old April 10th, 2013, 06:08 PM   #10
davidwsk
Registered User
 
davidwsk's Avatar
 
Join Date: Feb 2006
Location: Kuala Lumpur
Posts: 11,815
Likes (Received): 3233

Revising to 2x 50 fl with a retail podium.

It's still in the planning stage..
davidwsk no está en línea   Reply With Quote
Old May 15th, 2013, 01:15 PM   #11
davidwsk
Registered User
 
davidwsk's Avatar
 
Join Date: Feb 2006
Location: Kuala Lumpur
Posts: 11,815
Likes (Received): 3233

Quote:
Originally Posted by patchay View Post
The Edge Weekly May 13-19, 2013:

Planned office tower and shopping mall project with almost 100m frontage on Jalan Sultan Ismail.


-----------
davidwsk no está en línea   Reply With Quote
Old February 6th, 2015, 07:30 AM   #12
davidwsk
Registered User
 
davidwsk's Avatar
 
Join Date: Feb 2006
Location: Kuala Lumpur
Posts: 11,815
Likes (Received): 3233

Quote:
YNH Property signs hotel management deal with Hilton
Friday, 6 February 2015



KUALA LUMPUR: YNH Property Bhd has roped in Hilton Worldwide, a global hospitality player, to manage a hotel at Menara YNH – a mixed development project in Kuala Lumpur that the property developer is planning to launch.

The company, in a statement to Bursa Malaysia yesterday said that it had entered into a memorandum of understanding (MoU) with Hilton Worldwide Manage Ltd for the proposed hotel to be branded as “Hilton Kuala Lumpur City Centre and Residences.”

It did not, however, say when the project will start.

“Any new developments arising from the above MoU will be announced from time to time,” it said.

It was reported in June last year that YNH was seeking a hotel operator and an anchor tenant for its proposed Menara YNH project. The project itself goes back at least 10 years.

YNH had acquired the 1.2ha freehold commercial site for RM482 per sq ft or RM63mil from Pengurusan Danaharta Nasional Bhd in July 2004 and had originally planned to build a 55-storey office block, two 56-storey serviced apartment blocks and a 50,000-sq-ft retail podium.

YNH then entered into a 60:40 joint-venture agreement with Singapore’s CapitaLand Ltd in December 2006 to develop a 45-storey office tower with a retail podium. However, in mid-2007, the agreement lapsed.

Subsequently, the company entered into an agreement with Kuwait Finance House (M) Bhd (KFH) in January 2008, in which the latter was to buy a 50% stake in the project for RM920mil or around RM1,230 per sq ft.

That deal too, failed to take off.

Most recently, it was reported that the mixed development project would be revived comprising a hotel, offices and retail outlets with a gross development value of RM3.4bil.
http://www.thestar.com.my/Business/B...ton/?style=biz
davidwsk no está en línea   Reply With Quote
Old February 6th, 2015, 07:51 AM   #13
davidwsk
Registered User
 
davidwsk's Avatar
 
Join Date: Feb 2006
Location: Kuala Lumpur
Posts: 11,815
Likes (Received): 3233

New name :
Hilton Kuala Lumpur City Centre and Residences
Height & Floor count will be reconfirmed
davidwsk no está en línea   Reply With Quote
Old April 22nd, 2015, 10:14 AM   #14
azey
Registered User
 
azey's Avatar
 
Join Date: Jan 2009
Posts: 3,399
Likes (Received): 1425

HILTON KLCC & RESIDENCES (second in KL after Hilton KL Sentral)

Quote:
Originally Posted by rizalhakim View Post
__________________

the man from k-town, Seoul_Korea liked this post
azey no está en línea   Reply With Quote
Old October 3rd, 2017, 06:40 AM   #15
davidwsk
Registered User
 
davidwsk's Avatar
 
Join Date: Feb 2006
Location: Kuala Lumpur
Posts: 11,815
Likes (Received): 3233

Latest render... around 80 fl

Quote:
Originally Posted by W3raq View Post
__________________

Munwon liked this post
davidwsk no está en línea   Reply With Quote


Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 08:49 PM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu