Ara Hill’s Phase 2 launch well received

PETALING JAYA: Sime Darby Property has launched the second and final phase of its Ara Hill development now that sales of Phase 1 have reached more than 80%. To date, almost 50% of Phase 2 has been snapped up within two weeks.


The interior of one of Ara Hill's show units

Located in Ara Damansara, Phase 2 of Ara Hill offers 49 low-rise villas and 133 condominium units. The villas have built-ups of 1,948 to 4,715 sq ft and are priced between RM883,900 and
RM2.2 million. The condos have built-ups between 1,442 and 4,532 sq ft and are priced
from RM566,900 to RM2.26 million. There are two blocks with 16 design layouts to choose from.

The exclusive freehold project of Ara Hill was planned as a resort setting offering lush greenery and plenty of water features. In fact, almost 50% of the 16- acre Ara Hill will be covered
with ponds, fountains, gardens and other landscaping features upon completion in 2009. The developer has roped in popular songstress Camelia as its brand ambassador.

Ara Hill has a gross development value of RM350 million and an average selling price of RM420 psf. Maintenance has been set at 30 sen psf.

Phase 1, which was launched in February offered 218 low-rise villas and condos with built-ups ranging from 1,300 to 5,000 sq ft. Prices start from RM475,000 onwards with 11 design
layouts to choose from.

There will be a clubhosue offering a wide range of facilities that include a cascading free-form
swimming pool, playground, gym and tennis courts, each unit comes with two car parks. The more expensive units come with three car parks and a garage.

Ara Hill is accessible from the Federal Highway via the Sultan Abdul Aziz Shah Airport road, the NKVE and the LDP.

By theSun (By Tim Leonard)

Plenitude sees over RM3.8b GDV in next 15 years

KUALA LUMPUR: Plenitude Bhd expects to be kept busy over the next 10 to 15 years with the development of its total landbank of 767.6ha (1,919 acres) which could rake in an estimated gross development value (GDV) of over RM3.81 billion.

Its acting chief operating officer Khoo Yek San said the estimated GDV comprised 88% of residential development, with the balance being commercial properties. As at June 2007, it had unbilled sales of RM153.9 million.

Speaking to reporters after the AGM here yesterday, she said this was part of the company’s plans in the three growth corridors in Peninsular Malaysia comprising the Northern Corridor Economic Region (NCER), central region of the Klang Valley and the Iskandar Development Region (IDR).

Khoo said Plenitude’s flagship mixed development project, the Taman Desa Tebrau township located within the Iskandar Development Region (IDR), covered a land area of 386.29ha (965.73 acres) with a total GDV of RM1.9 billion.

When completed in 2018, it will be one of the biggest integrated commercial and residential hubs in the southern corridor. The take-up rate to-date has been 86% for its launches.

The latest phase, Tebrau City, is a city-within-a-city development concept comprising 236 serviced apartments and 38 retail outlets. The largest Jusco department store in Southeast Asia and Tesco and IKEA stores are located within Tebrau City.

“The company recently launched its first Block D of Tebrau City Residences (serviced apartments) of 82 units with an average price of RM180,000 with take-up rate 40%. Profit margin for the Tebrau City Residences is expected at 25%,” Khoo said, adding that the city project would be completed in four phases over the next five to seven years.

Plenitude’s other on-going projects include Lot 88 in Sg Petani, a mixed development project on a 23.5ha land with a GDV of RM134 million targeted to be launched by year-end.

Its planned bungalows valued at RM39 million in Bukit Tunku and RM94 million in Damansara Heights here are expected to be launched by year-end and early 2008, respectively.

Plenitude also plans to launch its high-end residential development comprising three-storey semi-detached units and condominum blocks in Batu Ferringhi, Penang, with a total GDV of RM120 million by next year. It will also develop another 0.49ha parcel of land in Jln Tanjung Bungah for boutique hotel and apartments.

Meanwhile, Plenitude announced that its net profit rose 22% to RM11.99 million in the first quarter ended Sept 30, 2007 from RM9.82 million a year earlier on the back of projects at Taman Desa Tebrau in Johor, Taman Putra Prima in Selangor, Bandar Perdana in Kedah and The Residences Changkat View in Sri Hartamas here.

Its turnover rose 25.39% to RM53.33 million from RM42.53 million, while earnings per share rose to 8.88 sen from 7.28 sen a year earlier. Its Tanjung Bungah Beach Hotel in Penang contributed 2.5% to the group’s net profit.

By The EDGE (By Lim Yu Min)

PJ Development's Viet venture is off

The proposed joint venture between PJ Development Holdings Bhd and a Vietnamese firm to build residential and commercial property in Vietnam has fallen through. This is because a memorandum of understanding between PJ and Binh Duong Manufacturing And Export-Import Co lapsed without them signing any contract.

By New Straits Times

CIMB places 'buy' call on UM Land

United Malayan Land Bhd is set to hold a soft launch of its condominium project in Bangsar next month, which should receive strong demand, CIMB Securities said in a report.

The condos have a gross development value of RM175 million, a 77 per cent upward revision from an earlier plan.

There will be about 189 units averaging 1,600 sq ft each. UM Land is likely to offer a price of about RM500-RM550 psf, CIMB said.

"We envisage strong demand for the properties given the lack of supply in the area and the higher prices of RM700 psf upwards for recent launches," it said.

The company is set to launch two more condo projects next year.

The most important one is the RM744 million Jalan Mayang condo, an equal venture with Bolton Bhd, which is close to the Petronas Twin Towers.

"As prices in the vicinity have risen substantially in recent months, the originally targeted selling price of RM600-RM700 psf appears low.

Recent transactions in that area have fetched above RM1,000 psf. Ironically, the delay in the launch is working to UM Land's advantage, CIMB said.

It has a "buy call" on the stock with a target price of RM3.57. The stock closed unchanged at RM2.20 yesterday.

By New Straits Times

Property portals to offer new experience for buyers

KUALA LUMPUR: Two Internet-based property portals are now offering potential buyers virtual 360-degree interior and exterior views of properties anytime anywhere.

iProperty.com.my and iLuxury.com.my, subsidiaries of Asia-based IPGA Ltd, have introduced the new technology called iVirtual, which a number of local developers have adopted to enhance the property shopping experience for their potential buyers.

As iVirtual worked synergistically with traditional marketing tools such as photographs, brochures and floor plans, it helped developers and agents substantially increase the effectiveness of their marketing campaigns and improve sales results, said an IPGA statement yesterday.

By Bernama