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[April 13, 2006]

Malaysia's WCT wins contract for apartment project in KL

(Asia In Focus Via Thomson Dialog NewsEdge)KUALA LUMPUR, April 13 Asia in Focus - WCT ENGINEERING BERHAD (KLSE:9679) has won a contract to build five apartment blocks with car parks and a club house in Bukit Tunku in Kuala Lumpur. Its wholly-owned subsidiary, WCT CONSTRUCTION SDN. BHD., on 12 April 2006 accepted a letter of award from TIJANI (BUKIT TUNKU) SDN. BHD. for the project, it said in a statement to Bursa Malaysia on April 12.

* WCT Construction will build the project over 24 months for a contract sum of RM163 million (US$44.4 million).

* The project comprises three blocks of 5-storey (70 units) duplex apartments with a single storey semi basement carpark, two blocks of 15-storey (112 units) apartments with a 2-storey car park and a 2-storey club house.


Malaysia's WCT wins contract to build five apartment blocks with car parks and a club house in Bukit Tunku in KL


13-04 1922

38,494 Posts
Tijani 2 North project at a glance:

Tijani 2 North is the most prime real estate development in Malaysia. [Tijani means jewel in Arabic

Tijani 2 North is an estate of luxury condos in the capital, Kuala Lumpur, in a high class area known as Kenny Hills

Kenny Hills is the most expensive address in the country. The Sultan of Brunei has a house there which is an illustration of the standing of the area

The developer is a PLC, Bolton Group. They have been trading since 1964, and floated in 1972. They are the longest established and most respected of Malaysia's real estate companies - see

Real estate in Malaysia is more heavily regulated than in the UK, with all buyers funds held in government controlled trusts. As an investment location it is as close to zero risk as possible. As Malaysia was under British rule until 1945, UK laws still apply, but have actually been toughened further in favour of the consumer.

Capital growth is strong in Malaysia, circa 15% per year and rental yields are around 8 or 9% (based on similar projects in KL, which in fact are not nearly as polished as Tijani). We expect these units to increase in value around 20% between now and completion.

There is 70% LTV finance available for end user buyers from a choice of 5 international and regional banks (HSBC, Maybank, Hong Leong Finance, United Overseas Bank and Standard Charter). Also, the availability of finance means the exit strategy for buyers wishing to cash out and move on is relatively painless as resales are much easier to achieve in Malaysia than in locations where finance is not readily available to foreign investors.

I have personally inspected the site with the Chairman of Bolton, Mr Lim Yen Haat, and can vouch that the finished units were the highest quality finish I have seen anywhere and the interiors are truly stunning (all Philip Stark fixtures and fittings for example). Also worth noting, the project site runs like clockwork.

The construction firm are stock exchange listed, with a turnover of $300,000,000 per year. The rental management firm already enlisted are also a PLC, on a performance based contract.

The units are from circa £280k, the tenure is freehold, with no restrictions for foreign buyers whatsoever.

This is a Rolls Royce project, as good as zero risk and in the best location of the capital city of one of Asia's best performers - GDP growth in Malaysia was almost 7% last year.

38,494 Posts
Tijani 2 North, Kenny Hills

Prestige and Luxury for Generations to Come

The ever-changing developments throughout Kuala Lumpur can make it difficult to decide which property would be a worthwhile investment, and also serve as a truly comfortable home through the years. One of the few that meet these stringent demands is Tijani 2 North, a luxurious freehold development in the heart of Kuala Lumpur’s time-tested most desired neighbourhood – Kenny Hills.

This glittering gem (Tijani means “crown jewel” in Arabic) is a lavish, low density development offering 70 duplex units and 84 condominium units spread over 7.4 acres – a density of only 21 units per acre. The built-up area of the condominiums and duplexes ranges from 2,827 sq. ft. to over 5,644 sq. ft., the indicative price for the final block D will be above RM3.3 million, with additional 5% discount for Bumiputra purchasers. The duplexes are all sold out, whereas the condominiums are open for registration in four contemporary designs, offering great value for their prestige, comfort and potential in rental income.

Everybody Wants to Live in a Quality Neighbourhood
Kenny Hills is, of course, well established as the neighbourhood of the rich and famous. Those listed on its elegant rolls have included Malaysia’s beloved first Prime Minister, Tunku Abdul Rahman Putra Al-Haj. Tijani 2 North is appropriately targeted at the crème de la crème of society. Offering more than just prestige, however, the neighbourhood also grants swift access to all parts of KL, and is generating great interest from owner-occupiers, investors and expatriate tenants.

Finesse and Fine Detail

Designed to be modern and contemporary, the lush settings and stunning interiors of Tijani 2 North will delight the most discerning buyer. Enter the grand entrance and a host of
tranquil water features and luxuriant landscaping welcome you, removing remnants of the city’s bustle in only a few minutes. Feast your eyes on the panoramic views of the twinkling lights of the KL city skyline, or the complex’s lush gardens.

Indoors, the magnificent interiors – from the finely crafted fixtures to the imported marble flooring, en suite bathrooms and Jacuzzi in the master bathroom – attest that no detail was left out in planning for residents’ every comfort. Glittering soirees can take place in the spacious living area and adjoining lanai, with a powder room available for breaks.

Security, and the Lighter Side of Life

Tijani 2 North features a high-level security system (including 24-hour manned security) designed by a selected team of consultants and specialists. Each condominium unit comes with 3 carpark bays and a private lift lobby, while duplex residents will enjoy a double-volume living room. The luxurious penthouse is reached via a private lift lobby, and offers a private pavilion from which to view the world as a majestic eagle.

Nestled cosily between the condominiums and duplexes is a luxurious clubhouse catering exclusively to Tijani 2 North residents, with facilities including state-of-the-art gymnasium; 25-meter lap pool; sauna and spa with Jacuzzi; tennis, squash and half-size basketball courts, and a children’s playground. The clubhouse also offers a function room, billiard room, reading room and cafeteria.

Meanwhile, a few minutes’ drive away are recreational facilities such as the Tun Razak Hockey Stadium and Sports Complex, as well as the Bangsar and Hartamas shopping centres.

A Track Record of Quality and Finesse

This “gem” of a property is being developed by Tijani (Bukit Tunku) Sdn Bhd, a subsidiary of Bolton Berhad. Property developer Bolton has been creating quality living and commercial projects since 1964. Among its credits are Campbell Complex, Tijani (Kenny Hills), Taman Tasik Prima (Puchong), D’Mayang Condominium (KL city centre), Langkawi Fair (Langkawi), Lavender Heights (Senawang), Bandar Aman Jaya (Sungai Petani), Parkrose Condominium (Bangsar) and Taman Seri Telok Emas (Melaka).

Window of Opportunity

Needless to say, Tijani 2 North offers an incredible final opportunity to own some of the highest-potential real estate in Kuala Lumpur’s most desirable neighbourhood. Now open for registration, Block D of this prestigious development – the last and final block, consisting of only 28 select units – is targeted for launching in July 2008 and scheduled for completion in the last quarter of 2008.
From RM3,400,000 - RM7,600,000

this 1 almost completed

38,494 Posts
hallenge for Bolton

FOR decades, Kenny Hills has been known to be the home of the rich and famous. Be they corporate leaders, politicians, members of the royal families or someone with heaps of money, Kenny Hills drew them with her meandering tree-lined roads and mosquito-filled slopes.

But the community who lived there also treasured and protected what they have with passion. And because they had influence and power, Kenny Hills continued to remain green.

Several years ago, residents of Kenny Hills were up in arms when they discovered that certain parts of their beloved neighbourhood in Jalan Langgak Tunku would come under the bulldozer. Their concerns were natural as Kenny Hills, one of the most up-market residential urban living in the city, is also the last of the green bastion of modern city living.

Chan posing in front of a Tijani home.

Having a home here is equivalent to having arrived. There is nothing to upgrade to. With a benchmark as challenging as this, what can any developer offer that will appease the current community and at the same time, appeal to new buyers?

This challenge was presented to Bolton Bhd when it became one of the largest land owners there with 42 acres in the late 1990s.

Says Bolton executive director Chan Wing Kwong: “Kenny Hills is like a gentleman’s club. How exclusive can any developer be?”

It was a challenge they decided to take up. They took a second look at their plans, which at that time, was to be a high dense commercial, retail and residential area.

“We decided to adopt a more seamless approach, taking into consideration the current community. If anyone were to buy, our first catchment would be the community here,” says Chan.

Hence the governing rule was to consider the wishes of the community. The second thing they did was branding. Bolton had previously done two other high-end projects in the city, but nothing of this scale. That was when Bolton decided to put greater emphasis on branding. That led to the birth of the Tijani (crown in Arabic) brand. Bolton plans to use the brand Tijani for their upmarket projects across the country, eventually.

Says Chan: “We decided to focus on long-term value.”

Because Kenny Hills was like a gentleman’s club comprising the rich and their sons and daughters, relationships matter.

There is the old rich who made their money by the sweat of their brow. At least their fathers did. Now that they have their third generation, they too want their children to live close by. But the young rich did not want the cumbersome duties of having to look after a home on half an acre. (That’s the land area of some of the properties there).

That was when Bolton came up with a 3-in-1 strategy – the natural, modern tropical and modern minimalist – to meet the needs and demands of the community they were targeting.

Tijani 1, comprising 33 vacant lots, took on a natural theme. Its entrance was understated with lots of greens and land area between 13,000 and 54,000 sq ft (more than an acre).

A small house on a large piece of land – the definition of Kenny Hills homes and this was what the community lived by.

Bolton was targeting an audience who is used to living on large pieces of land. When Tijani 2 South came about, the concept changed to appeal to a community who wanted to downsize but who nevertheless, wanted an oasis of green to remain. Forty-four semi-detached homes were introduced in this modern tropical setting.

Needs and wants change with the season but some basic needs have to be respected. With emphasis on that, Tijani 2 North, with its 70 units of low-rise duplexes and 84 units of condominiums, was launched in 2005.

Bolton will launch its low-rise block of eight storeys comprising 28 units before the end of the year at between RM1,000 and RM1,200 per sq ft in Tijani 2 North. There will be a Tijani 3 later on, which comprises 100 odd units of condominiums. Tijani 2 North was launched in 2005 at RM650 psf.

“We are now appealing to the youngest generation. They may be buying with their own money, their father’s or grandfather’s money. They don’t want to maintain the grounds, they want to enjoy life and socialise. They are adventurous and don’t mind mixing with the neighbourhood. So we provide them with a clubhouse and other facilities,” says Chan.

Looking back, he says the single factor that gel this 3-in-1 strategy is relationships.

“Location, quality and being green are important but above all these lie the importance of relationships. But having said that, 30% of our buyers were foreigners. They know they cannot go wrong with this location.”
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