UDA plans housing projects in ECER

By The Star

KUALA TERENGGANU: UDA Holdings Bhd subsidiary UDA Land (East) Sdn Bhd will invest RM200mil to develop housing projects on 60ha in the three East Coast states over five years.

UDA Land general manager Zainal Ismail said the projects would comprise low and medium-cost and luxury houses and would be developed in stages.

“With the launch of the East Coast Economic Region (ECER) at the end of this month, infrastructure like roads will be built and this will have an impact on the property sector,” Zainal said at UDA's Hari Raya do here.

“We are confident these housing projects will see good demand as the economic lot of the people improves in Kelantan, Terengganu and Pahang.”

Zainal said that as a national property development agency, UDA was prepared to work closely with the Local Governments to make ECER a success. - Bernama

BLand, Jeju to build US$500m complex

By New Straits Times

BERJAYA Land Bhd has tied up with Jeju Free International City Development Centre to develop a 74.3ha US$500 million (RM1.69 billion) resort-type residential and commercial complex in South Korea.

In a statement yesterday, Berjaya Land said its wholly-owned subsidiary Berjaya Leisure (Cayman) Ltd entered into a conditional memorandum of agreement with Jeju Free International to develop the eight million square feet of land located at Yerae-dong, Seogwipo-si, Jeju special self-governing province.

"The joint venture will allow Berjaya Land, via Berjaya Cayman, to capitalise on the expected demand for local property and leisure assets in view of the growing tourists arrivals to Jeju. The project will also capitalise on the South Korean government's packages of incentives and promotions to develop Jeju.

"In addition, the land price of about RM33 or US$10 per square foot is reasonable considering South Korea is a developed country and the directors may consider listing the joint venture company," said Berjaya Land.

Jeju is a statutory agency established within the South Korean Ministry of Construction and Transportation and has been tasked with overseeing the overall development of Jeju special self-governing province which expects 5.5 million visitors this year.

Penang 'Queens City' draws good response

By New Straits Times

AN INTEGRATED and self-contained township called "Queens City" on the southwest end of Penang island has attracted interests from Malaysian and foreign buyers.

The 6.4ha waterfront development to be undertaken by Kuala Lumpur-based CP Group is to offer retail and food and beverage outlets, fully-furnished serviced residents, office suites and a five-star hotel, its developers say.

It carries a gross development value of RM1 billion and will offer a waterfront promenade and view of the Penang Bridge.

"We are currently in talks several international hotel chains on managing the water-fronting hotel, " CP Land Sdn Bhd chief executive officer Tony Lim told Business Times.

The CP Group, which owns and manages the Eastin Hotel in Kuala Lumpur, is investing in excess of RM100 million for a business-class hotel (also under the Eastin brand) at "Queensbay" which is slated for completion by the end of 2008.

The "Queens City" project forms part of the 30ha "Queensbay" masterplan development.

Lim said the five-star hotel will boost among others a 2,000 person capacity ballroom and the "Queen City" project is expected to commence next year and is slated for completion by 2012.

"The four blocks of office suites are planned to cater for Multimedia Super Corridor-status firms," he added, "and we are currently building a back-up 33kv power substation which will be ready in two years to meet the needs of the MSC-status companies which will be operating from Queensbay".



Meanwhile, Lim also said the CP Group is exploring the Vietnam property market currently.

"Nothing is firmed up as yet, but we are looking into an integrated property project in Hanoi," he added.

Fraser Hospitality to manage YNH project

By The Star

PENANG: YNH Property Bhd has engaged Fraser Hospitality Pte Ltd, a wholly-owned subsidiary of Fraser & Neave Ltd, to manage its RM300mil Lot 163 Suites project at Jalan Perak, Kuala Lumpur.

Fraser Hospitality is an international branded serviced residence management company providing consultancy and other services in relation to Gold Standard residences in key gateway cities of the world.

YNH corporate services head Daniel Chan said a memorandum of understanding was signed with Fraser Hospitality last month.

The five-year contract would start at end-2008 upon completion of the 217-unit project, which is 95% sold to date, he said, adding that most of the buyers were keen to let Fraser Hospitality manage and lease their properties

“Under our profit sharing agreement with Fraser Hospitality, it will get 3% of the annual gross operating revenue from rentals, which is about RM20mil a year.

“Fraser Hospitality will also get an incentive fee, which is 4% of the yearly gross operating revenue for the first year. The incentive fee will increase to 5% of the yearly gross operating revenue in the second year and 7% in the third,” he told StarBiz.

Chan added that there was an option to renew the contract for another five years.

Chan said the capital value of Lot 163 Suites, previously named 163 Residence, had appreciated between 30% and 40% since their launch in 2005.

“When they were first launched, the selling price was about RM800 per sq ft. It is now between RM1,000 and RM1,200 per sq ft,” he said.

On the group’s RM1.2bil Menara YNH project, Chan said the local authorities had last month approved the construction of the iconic 35-storey office tower, Menara YNH , in Jalan Sultan Ismail.

“Negotiations are progressing well and we will soon enter a second round of meetings with the prospective joint-venture partners.

“They are very keen to undertake the development of Menara YNH as soon as possible in view of the lack of premium commercial spaces in Kuala Lumpur. We intend to start construction work for the tower by end-2007,” he said.

BLand plans US$500mil project in South Korea

By The Star

KUALA LUMPUR: Berjaya Land Bhd (BLand) is planning a mixed residential and commercial development valued at about US$500mil in South Korea's Jeju Island.

The company said it would form a joint venture with South Korea's Jeju Free International City Development Centre (JDC) to build a resort-type residential and commercial complex.

JDC is a government agency tasked with overseeing the overall development of the Jeju Special Self-Governing Province in South Korea.

The planned development would comprise up to 1,500 housing units, a 500-room hotel, a full-fledged casino, a commercial complex and a medical centre, BLand said.

BLand would own 81% of the joint venture company which will be the master developer of the project. – AFX-Asia

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Lien Hoe buys 13m Perduren shares for RM11.7m

KUALA LUMPUR: Lien Hoe Corporation Bhd has acquired an additional 13 million shares in Perduren (M) Bhd for RM11.7 million or 90 sen each.

Lien Hoe said yesterday the acquisition raised its stake in Perduren to 20.56% or 28 million shares, making the latter an associated company. This enabled Lien Hoe to equity account the financial results of Perduren in its books.

Lien Hoe said the accumulated cost and book value of its investment in Perduren amounted to RM26.5 million which represented 14.51% of the company’s latest audited consolidated net assets as at Dec 31, 2006.

“The market value of these Perduren shares based on the last traded market price of 78 sen on Oct 22, 2007 is RM21.7 million,” it said. Lien Hoe had emerged as a substantial shareholder in Perduren in August 2007. It said the decision to invest in Perduren was based on the attractive valuation of the shares.

It added Perduren was expected to see further earnings growth from its intended venture into property development, where it had strategically located assets that will provide a steady stream of recurring income.

By The EDGE

Cinta Sayang set to bloom

By theSun

SUNGAI PETANI: Eupe Corporation Bhd (Eupe), a developer with over 20 years experience in property development is planning to launch its Cinta Sayang Resort Homes by the end of this month or early November.



The landed residential project will offer residents the option to enjoy resort facilities as it is located next to the Cinta Sayang Golf and Country Resort and the Carnival Water Theme Park.

"The Malaysian property market has come a long way from 10 years ago. Development work of merely building houses is no longer sufficient to meet market needs," says Eupe's managing director Beh Huck Lee.

Traditionally, property developers used to purchase large tracts of land for massive developments, with the main aim of reaping capital appreciation. Today, integration of services is an important factor in many projects and this will be Eupe's key focus in all its upcoming developments, Beh tells theSun.

The developer is convinced that such services will increase in importance as the thinking of property buyers mature. "This is why landscaped parks, jogging trails, as well as amenities such as markets and commercial lots are becoming more integral to property developments," says Beh adding that Cinta Sayang has all these elements.
There is a market and commercial area just outside the development called Ria Jaya.

The gated and guarded project has a gross development value of RM235 million and will comprise 190 semi-detached and 165 terraced houses (pic shown) on a 155-acre site.

The semidees have a built-up area of 2,900 sq ft wih a price tag of RM338,000, while the terraced houses have a built up area of 2,800 sq ft and are priced from RM228,000 onwards.

Beh is confident the houses will be well received by the public as the project is the only residential development in Sungai Petani located next to a golf course and water park.

Higher living in Cheras

By The Star

THE Peak @ Bukit Prima is poised to become one of the most elegant and exclusive gated and guarded residential enclaves in Cheras.

Many people who have seen the show houses have snapped up the lovely superlink and semi-detached houses. The superlink boasts of two master bedrooms, 3,734 sq ft built-up area and 15ft high ceiling for the living room.

To-date the developer Yuk Tung Development Sdn Bhd (formerly known as Desa Kipcity Sdn Bhd) has achieved RM100mil sales out of a gross development value of about RM260mil. The 54-acre, low-density freehold development is managed by the HR United Group.

Two more show houses shall be completed in time for the Nov 3 launch of 30 more units of three-storey semi-detached houses. They are the 12 units of the 40ft x 80ft types with 4,300 sq ft built-up area and 18 units of the 40ft x 90ft type with 4,500 sq ft built-up area. Both types are priced from RM1.3mil to RM2.6mil.

He said 20 units of 24ft x 85ft superlink houses priced from RM730,000 to RM1.4mil will also be launched simultaneously.

The two show houses are of the 40ft x 80ft semi-detached and the 24ft x 85ft superlink.

An artist’s impression of the three-storey semi-D

“The third show house for the 40ft x 90ft semi-detached type will only be ready by the middle of November. We are spending over RM3mil on the interior decoration alone for the three show houses. We are using quality finishes such as porcelain tiles for living and dining areas and laminated timber for bedrooms,” said HR United Group managing director Gary Tan You Hock.

Tan said the house designs were not only innovative but the group was also daring enough to be a price leader, setting a premium price in the area.

“Those who have bought our houses at a lower price earlier are happy to see that their properties have appreciated in value and also proud about their wise investments in our properties,” he said.

The initial superlink price was about RM480,000 (now RM730,000 for the 3-storey) while the semi-detached price has risen from RM780,000 to RM1.3mil (3-storey).

“We feel that the middle market segment is saturated, therefore, our group's direction is to go into the expensive and quality type of residential developments as we are positive about the high end market segment,” he added.

Tan said buyers of the Phase 1 superlink houses would get their vacant possession by April next year and this would be followed by delivery of the semi-detached homes next August.

“We have put in a lot of efforts and money into making this development stand out from the rest so that we can win the confidence of our purchasers and also establish a brand name for ourselves in the upmarket property industry in the Klang Valley,” he said.

An artist’s impression of the clubhouse and entrance statement

Residents of The Peak have their own exclusive modern, five-storey clubhouse complete with well-equipped fitness centre, a swimming pool, sauna and restaurants among others.

Tan said another 96 units of 22ft x 75ft superlinks under Phase 3 would be launched early next year. The whole project would be completed in two years.

The Peak @ Bukit Prima will have a total of 360 units comprising 142 units of 3-storey terrace houses (superlinks) under Phase 1, 122 units of 2 and 3-storey semi-detached houses under Phase 2 and 96 units of 3-storey terrace houses (superlinks) under Phase 3.

Low Thiam Herr (left) and Lim Kim Chai showing the scaled-down model of The Peak

The 40ft x110ft three-storey semi-detached houses are open for preview on Nov 3.

He said there would be two main access roads into The Peak: via Alam Damai (the road was opened three months ago) and a proposed flyover from Jalan Cheras into Taman Connaught to be opened next year.

On its KinraraMas @ Bukit Jalil (off Jalan Puchong and next to Bandar Kinrara), Tan said the first 18-storey apartment block is about 90% sold. The second 18-storey block was launched over the weekend. Both blocks have a total of 569 units. All 56 terraced houses in this project have been sold.

“This project is very near the new Giant hypermarket which is about two minutes drive away. The response have been very good as people like our designs and each unit comes with two car park bays,” he added.

Yuk Tung group keen to do more projects

By The Star

THE Yuk Tung Group is a reputable investment holding company well known in Macau and Hong Kong.

Under the leadership of its founder Low Thiam Herr and co-founder Lim Kim Chai, the group will be involved in more high-end property developments in Malaysia.

Low and Lim, who are also the chairman and deputy chairman of HR United Group respectively, are shareholders of several international investment firms in Hong Kong, Macau, Singapore and China.

They are keen to be involved in property developments in Malaysia and together with the HR United Group will undertake various projects in the Klang Valley. The HR United Group has eight ongoing and proposed projects with a gross development value of RM1bil.

Low Thiam Herr (left) and Lim Kim Chai showing the scaled-down model of The Peak

They are looking for more prime land particularly in the Klang Valley to do upmarket projects.

In the pipeline is a 160-unit upmarket condominium in Mont'Kiara, Kuala Lumpur. It will be the group's maiden project in the exclusive expatriate enclave and is expected to be launched end of this year.

Yuk Tung has also bought a piece of land very near the prestigious Kuala Lumpur City Centre (KLCC) development where it also proposes to build a high-end condominium.

Low, 47, a Singaporean has vast experience in international networking and has over 20 years business experience and in depth knowledge in trading, investments, operation of entertainment and tourism related businesses while Lim, 40, has been active in the investment industry and has extensive experience in manufacturing and international businesses.

“The group remains positive about the property market in Malaysia and will maintain its focus on the core business of property investment and development. The challenge for the future is to build, utilise and most of all maintain its corporate resources to support its core business goals,” said Low.

“We feel that the Malaysian government's austerity measures for the property sector over the past years and the strong commitment from all levels of our management team will ensure delivery of quality property and excellent customer service. With the strong support from our business associates as well as financial institutions, the group's prospects will continue to be bright,” he added.

While the Yuk Tung Group has established itself overseas, the HR United Group is more popular in Malaysia having done several successful projects in this country.

These include completed projects such as a mixed residential project in Seremban, terrace factories and single storey houses in Negri Sembilan.

It has also built 380 apartments with condominium facilities in Bandar Country Homes, Rawang and Taman Dagang and Sri Ampang, both in Kuala Lumpur.

Its current projects are the Suria Mas @ Bandar Sunway (three blocks of 16-storey apartments with condo facilities), Madu Mas @ Setapak (a nine-storey apartment and townhouses), Pangsapuri Persanda in Shah Alam, Kinrara Mas in Puchong (three-storey terrace houses and apartments), Vista Emas in Bangi (double-storey terrace houses) and the Peak in Cheras (freehold, low-density urban villas).

Its corporate office is at Wisma HR in Pusat Bandar Country Homes, Rawang. There are plans for both groups to have a new corporate office.

Partnering with Twins

By The Star

TWINS Realty believes its business model of focusing on real estate project marketing makes it a choice partner for property developers looking to raise higher awareness for their projects.

The company's 60-strong team of real estate agents focus on project sales and marketing for a number of property companies in the Klang Valley, Johor, Melaka and Sabah.

According to Twins Realty principal Wincent Saw, the outsourcing of project marketing was set to gain popularity and the onus was on industry players to form effective partnerships with their clients.

“Twins Realty aims to be a one-stop centre for property developers by being a reliable partner and getting involve with them from the project planning stage, which usually starts six months to a year before a project's launch.

“The task begins the moment a developer secures a landbank until the successful launch and sale of the project,” Saw told StarBiz.

The range of services includes identifying the right product type, concept, price and promotional strategies.

It also offers advice on optimal space utilisation through practical floor layout, market trend analysis as well as cost effective and efficient marketing strategies.

With more Malaysian developers venturing overseas, Saw said Twins Realty has plans to set up representative offices in Bangkok and Ho Chi Minh City in the first quarter next year.

The company is ISO9001:2000 certified in project sales and marketing, the first in the Klang Valley to be certified in 2003.

One of the company's strengths is its strong research and development team which keeps a close tab on all new project launches and their take up rates as well as projects under planning and under construction.

“We are very committed to ensure the success of the projects we undertake. All the agency's sales consultants have to undergo 36 hours of sales training every year,” Saw said.

The company's customer relationship management record has a database of 50,000 for future follow up for launches and research.

“Twins Realty has so far worked with 20 developers and undertaken more than 50 property projects of which 80% have achieved their sales target.

“On a yearly basis, the agency sells between 1,000 and 1,500 units of property worth some RM200mil while its gross income averages around RM4mil to RM5mil a year,” added Saw.

Most of the property products transacted by Twins Realty are in the price range of RM200,000 to over RM1mil.

In keeping with it's belief to constantly develop and pioneer new ideas for project marketing, Twins Realty has recently introduced the Twins Mobile - a mobile project display unit that was converted from a Renault Kangoo car.

The mobile unit functions as information provider on new project launches targeted at selected market areas. The mobile unit is driven to places where crowds gather, including markets and night markets.

“Through our mobile sales office, we aim to deliver property buying opportunities right to the buyers' door steps.

“The mobile unit has proven to be an effective way to maximise the advertising expenses for our clients as it is able to travel far and wide to reach out to the target market.”

Encouraged by the success so far, plans are afoot to expand the mobile fleet to three by next year.