Insas hits 90% sales

A model of Insas’ Putra Residen

A good response has been achieved for Insas Bhd’s two maiden launches of the Ampang Putra Residency and Putra Residen@ Bukit Rahman Putra said its group managing director and chief executive officer Datuk Wong Gian Kui (pix).



“The Ampang Putra Residency in Jalan Ampang comprises 18 units of 3-storey shop offices and two 20- storey blocks of apartments. More than 90% sales for shop offices and the one block of apartments have been achieved. Plans are to launch the second block of apartments soon,” he said in his statement in the group’s 2007 annual report.

The group had soft-launched the freehold 10.2-acre Putra Residen @ Bukit Rahman Putra, Sungai Buloh a year ago and a take-up of over 70% has been achieved for the 57 units of “zero boundary” bungalows.

The RM60 million Putra Residen is being developed by Insas’ subsidiary Hastanas Development Sdn Bhd.

There are only five units per acre and the bungalows have builtups of 3,605 to 3,843 sq ft with prices from RM835,000 onwards.

He added that the group is currently awaiting approval for the development order for its 22.3 acres of land in Cheras into a gated and guarded residential project. “We will continue to identify and invest in good property investment and development projects in the Klang Valley that yield
attractive returns and have good development potential,” Wong said.

Insas Bhd is listed on the main board of Bursa Malaysia and its businesses include stock broking,
investment holding, property investment and development, project and credit financing, highfashion retail and car rental.

For the financial year ended 30 June, 2007, the group’s revenue increased by 30% from RM163.4 million to RM212.2 million and profit before tax rose by 216% to RM77.3 million from RM24.5 million in the previous financial year.

By theSun (Allison Lee)

Petaling Tin's plans for HQ site

Developer Petaling Tin Bhd has grand plans for its headquarters located in Petaling Jaya’s Section 19. The existing four-storey office building along Jalan Semangat with an annexed single-storey warehouse, may make way for a Grade-A commercial office tower with at least 25 levels and nett lettable area (NLA) of 308,000 sq ft. It may even include retail units, said its chief executive officer Leong Choong Wah (pix).



He told PropertyPlus that such plans however, will only take shape pending the local authorities’ decision to rezone Section 19.

“The current zoning for commercial properties in Section 19 allows for a gross plot ratio of 2.5 times psf and a six-storey height constraint. However, the local authorities are considering transforming this area into the likes of Section 13 which has commercial projects such as Jaya 33 and Jaya 1. If the rezoning is successful, Section 19 will have a nett plot ratio of 3.5 times psf without any height constraint,” explained Leong.

“Jalan Semangat will be one of PJ’s corporate hubs and we want our project to contribute towards this. We are still considering the options whether to sell or lease the building," said Leong.

The developer announced last week that it has entered into a sale and purchase agreement with Karambunai Corp Bhd via its wholly-owned subsidiary PTB Horticulture Farm Sdn Bhd to acquire the leasehold 88,000 sq ft site together with the office building, warehouse and ancillary building for a cash consideration of RM12 million.

The group estimates the project’s gross development cost to amount to RM90 million and a gross development value of RM138.6 million.

Leong added that even if the rezoning does not take place, the purchase would made a good investment.

“The purchase saves us RM25,000 monthly and offers annual rental yields of some 8%,” he offered.

The existing building has a NLA of 6,949.8 sq m (about 65,000 sq ft), the developer only leased about 7,000 sq ft while the remaining space was let out to third parties. Monthly rentals amount to RM100,000.

Leong also revealed that the developer plans to launch some RM174 million worth of residential properties next year from its freehold Taman Kelab Ukay in Bukit Antarabangsa, Ampang, as well as its leasehold Desa Bukit Indah in Sungai Buloh.

“The Group has over 1,400 acres of undeveloped landbank which are located in Karambunai in Sabah, Ampang, Sungai Buloh and Ulu Yam. We are considering options to unlock the value of the Karambunai site, which amounts to about 1,300 acres,” he said. It is planning a six-star resort as well as hillside villas for Karambunai with a potential GDV of over RM1 billion.

“We will be targeting the foreign market. An average villa can be sold for between US$2 million (RM6.6 million) and US$5 million. It will be very up-market, private and with large built-ups,” he added.

At the 200-acre gated Taman Kelab Ukay, it plans to unveil 17 zerolot semidees and 15 bungalows by Q1 2008. With a GDV of RM55.4 million, the units are tagged between RM1.5 million and RM2.5 million. The semidees will have land areas of between 3,800 and 4,000 sq ft while the bungalows will have land areas of 4,500 to 5,000 sq ft.

It will also be launching 15 units of 24ft by 95ft 3-storey superlinks priced between RM650,000 and RM700,000 for a GDV of some RM9.3 million.

At Desa Bukit Indah, the developer will be launching 22ft by 80ft 2-storey linked houses with prices from RM230,000. This phase was soft launched in May with only 83 units on offer.

Some 113 units of 20ft by 65ft 2-storey links will be offered during the second quarter of the year. Prices of standard units are expected to be at RM185,000.

By theSun (by Loo Pik Kwan)

Gamuda Land continues to set benchmarks

Already known for creating 'firsts' in the property sector, Gamuda is set on maintaining its reputation with its Bandar Botanic township

The first developer to create a waterfront parkland township with a self-sustaining urban stormwater management system. The first township in Malaysia to win the coveted Fiabci (International Real Estate Federation) Property Award 2003 for Best Master Plan.

The first developer to provide a comprehensive security system and the “first-of-its-kind” clubhouse in Klang.

“Many things here are a first,” said Stephen Goh (pix), general manager of Gamuda Land (Gamuda), the property division of Gamuda Bhd, referring to the first township it is independently developing — Bandar Botanic in Klang.

Launched in August 1999, the RM3-billion township sits on 1,200 freehold acres and is located 15km away from Subang Jaya, accessible via the Kesas Highway.

Designed in two parcels, Parcel A and Parcel B, the development offers a mix of apartments, linked homes, semidees, superlinks, bungalows and bungalow land.

“Some homes, such as cluster homes and townhouses are not to Klang’s taste; but we want to introduce new things to Klang,” said Goh.

The first phase of 2-storey linked homes was completed in early 2004. These homes were first launched and sold for RM160,000 per unit. “We estimate current transactions to be around RM250,000, approximately 56% appreciation value,” said Goh. To date, the township is 50% developed with an occupancy rate of 70%. “The remaining 600 acres would occupy us for another six to seven years,” Goh said.

At present, the township boasts 5,612 completed residential units, comprising apartments, 2-storey linked homes, semidees and bungalows with a population of about 21,000.

Meanwhile, 32% of its commercial parcel has been completed, with another 47% expected to be completed by early next year and the remaining 21% by late 2008. Comprising 2- and 3- storey shop offices, Bandar Botanic would have a total of 560 units of commercial properties.

Recent launches
Launched about a month ago on Nov 10, are the Boutique Bungalows, also dubbed “mini bungalows”. Pegged at RM750,000 onwards, these homes have land areas of 50ft by 80ft and built-ups of 3,240 sq ft. Specifically made for “upgraders”, Goh said that these homes are “extremely suitable for young families.”


Goh (right) and Sim Weng Keet, senior marketing and sales manager at the Boutique Bungalow show unit

Besides a maid’s room, there is also a bedroom on the ground floor. “The Klang market likes having a guest room on the ground floor, specifically for elderly guests,” said Goh, stating that this feature is fast becoming a prerequisite for the Klang market. Out of the 46 units launched, which Goh describes as “a steal”, 50% have been taken up.

In an earlier launch four months ago, 132 units of 36ft by 75ft semidees were completely taken up. Priced at RM472,800 onwards, these units have builtups of approximately 2,500 sq ft.

According to Goh, 80% of purchasers for Bandar Botanic’s homes are from Klang. “It is a domestic market. Klang residents, a predominantly Chinese market, have a preference of living close to relatives; therefore, the majority of purchasers are people who have relatives already living in Klang and who want to upgrade to larger homes within Klang,” explained Goh.

Ambang Botanic
Besides Parcels A and B, there is Ambang Botanic, an enclave of 800 high-end residential units. According to Goh, it is “one of the largest gated communities in Klang” and comprises four phases of superlinks, semidees, bungalows and bungalow land complete with its own dedicated park and Rainbow Lake.

This enclave boasts a 3-tier security system, said Goh. It is secured by galvanised steel fencing with motion sensors and CCTV cameras and spotlights all along the perimeter fencing; has only one guarded entrance with touch card entry access; and a fully integrated home security alarm system with a panic button connected to the guardhouse.

“The bungalows are fully sold,” said Goh. The 15 units of bungalows within Ambang Botanic are sized at 80ft by 90ft with built-ups of 9,250 sq ft and priced between RM1.8 million and RM2.1 million. Residents pay up to RM300 per month for security and landscaping maintenance.

With the motto “Your Home In The Garden”, the township boasts the 3km Central Lake within 80 acres of elaborate, thematic parks and gardens featuring more than 200 botanical species; 100 acres of green lung with over 150 species of plants; and 35 acres of landscaped gardens with eight distinctive water features.

According to Goh, about 40% of the entire development is dedicated to green lungs, parks, lakes and open spaces.

“We are proud of the landscaping,” Goh stated. “Our Central Lake is popular with couples who want to take their wedding pictures,” he said, adding that upon completion, the entire township would boast a total of three lakes; one in each parcel and a third in Ambang Botanic.

Club membership
Residents of Bandar Botanic enjoy membership at the Botanic Resort Club, an RM30 million clubhouse. Two coffee houses, a lounge, gymnasium, an Olympic-sized pool, fun pool and beach pool, badminton and table tennis courts, Wi-Fi-enabled reading room, sauna and spa are just some of the facilities offered at the clubhouse.

“At Bandar Botanic, it is a home to get away to,” declared Goh. Besides the clubhouse, facilities such as a community centre, an amphitheatre, playgrounds, a jogging track around Central Lake, basketball courts, tennis courts and a football field are also provided for the residents.

As for shopping, hypermarkets are only a five-minute drive away; or they could visit South East Asia’s largest Jusco in the neighbouring Bandar Bukit Tinggi.

Next year will see the launch of 16 units of bungalows within Ambang Botanic and 14 units of “semidees at the water’s edge”.

The launches will be in January and the first quarter of 2008 respectively.

Upon completion by 2015, there will be 12,000 residential units with an estimated population of at least 60,000. The township will also be equipped with a hospital, hotel, office towers, shopping complex and medical centre. The RM50 million dedicated interchange connecting the Kesas Highway directly to Bandar Botanic is expected to be completed in 2009.

Maiden township
Gamuda’s maiden township – Kota Kemuning – was a jointventure (JV) with DRB-Hicom Bhd. Launched in April 1995, the township takes up 1,820 acres in Shah Alam and has a GDV of RM3.2 billion. It is located five minutes from Bandar Botanic and is 25 minutes from Subang Jaya via the Shah Alam Expressway.

The development features meandering parks, lakes, gardens and recreational areas, as well as a 22-acre Wetland Park and a 3-acre Hillpark. It also houses Kota Permai Golf & Country Club, which was twice voted as Malaysia’s Best Golf Course by Golf Malaysia.

According to Goh, a dedicated RM90 million interchange was built to provide the township direct accessibility to all highways in the Klang Valley. At present, the township is 95% completed.

Built with the environment in mind, the Kota Kemuning Wetland Park won the International Landscape Planning Award 2003.

“I’d like to think that we do homes, not houses,” Goh added. “We care for the environment that people are in.”

Apart from Kota Kemuning, Gamuda is also known for its gated and guarded development, Valencia. Located off the Sungai Buloh Highway, the RM1 billion project was launched in December 1998. Taking up 280 acres, the project is 85% completed.

“We have another project, Jade Hills, which is pretty high-end,” said Goh. Sitting on 366 acres in Kajang with a GDV of RM1.5 billion, the project will offer a mix of superlinks, semidees and bungalows. Come February, simultaneous launches will be held at the site and also at its Damansara Jaya sales gallery. It would be similar to Valencia, added Goh.

By theSun (by Yeong Ee-Wah)

Japanese, Chinese properties clinch it at MIPIM Asia

Property projects based in Japan and China dominated the inaugural MIPIM Asia Awards, designed to honour the most innovative and outstanding buildings in Asia.
Over 100 projects from 15 countries across the Asia Pacific region were originally submitted to the inaugural MIPIM Asia Awards.

In September, the international jury selected three finalists for each of the seven competition categories, and the winners were unveiled at the Hong Kong Convention and Exhibition Centre on Nov 28.

Entries from two countries won in six of the seven categories. Real Estate projects in Japan won in three categories - Business Centres, Mixed Use Buildings and Green Buildings.

China-based entries won the Shopping Centres, Hotels & Tourism Resorts and Futura Projects categories.

The remaining category of Residential Developments went to Singapore.

"The jury was impressed with the large number of high quality submissions from across the region, in all categories," said jury panel president Robert Lie, who is also chairman of ING Real Estate Investment Management Asia (Hong Kong).

"The selection of the nominees and winners was therefore a difficult process. The quality of the final projects is testimony to the high standards in Asian real estate today."

The vibrancy of the real estate industry in the Asia Pacific, Lie said, was reflected in the number of entrants.

Out of the participating countries, China submitted the largest number of projects at 29, followed by Singapore (13), Hong Kong (12), India (eight), the United Arab Emirates (eight), Japan (seven), Australia (six), Thailand (four), South Korea (four) and Vietnam (four).

Other competition entries were received from Macau, Indonesia, the Philippines, the Maldives and Sri Lanka.

MIPIM Asia provides professionals from the industry with a unique insight into the Asia Pacific market, through world-class conferences and a showcase of development projects from the region, as well as enable them to explore new business opportunities and partnerships in the region.

The winners are Osaka Bar Association, Osaka, Japan (Business Centres category); Elements, Hong Kong (Shopping Centres); The Berth by the Cove, Singapore (Residential Developments); Tokyo Midtown Project, Tokyo (Mixed-Use Buildings); Banyan Tree Lijiang, Yunnan Province, China (Hotels and Tourism Resorts:); Research Institute for Humanity & Nature, Kyoto (Green Buildings); and Dongtan Eco-city, Shanghai (Futura Projects).

By New Straits Times

Talam awards RM125mil projects to IJMC

PETALING JAYA: Talam Corp Sdn Bhd has awarded IJM Construction Sdn Bhd (IJMC) a second package comprising five development projects worth RM125mil for completion by the latter.

IJMC will finish all the outstanding external and internal infrastructure works for 2,733 units of sold landed properties and apartments in Taman Lestari Puchong, Saujana Puchong, Saujana Putra, Lestari Permai and Jalil Heights.

“Construction work is expected to commence in January and the handing over of vacant possession is targeted to take between six and 18 months,” Talam said in a statement.

The first package, which comprised 8,439 units of landed properties and apartments worth RM700mil in six project areas, was awarded to IJMC last month.

“Work by IJMC in Puncak Jalil, Ukay Perdana, Putra Perdana, Kinrara Section 3, Bukit Beruntung and Lagoon Perdana has progressed as planned,” Talam said.

It added that the mixed developments would be progressively completed and handed over to buyers between mid-2008 and 2009.

With the award of the second package, Talam said that there would be no more abandoned or stalled projects under the group.

By The Star

MRCB ventures into Penang Sentral project

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) and Pelaburan Hartanah Bumiputera Bhd are setting up a joint venture company - Penang Sentral Sdn Bhd - for the Penang Sentral project, pending Foreign Investment Committee’s approval.

According to a statement released by Bursa Malaysia on Dec 14, MRCB said the proposed Penang Sentral project will include the development of an Integrated Transportation Hub comprising bus, taxi, railway terminal and monorail.

It will also include the retail, residential, commercial components, services facilities, the company said.

Bursa Malaysia said Penang Sentral Sdn Bhd has also signed a turnkey development contract with MRCB Selborn Corporation Sdn Bhd, a 60% subsidiary of MRCB, for the development management service, design, construction, completion and maintenance of the Penang Sentral Project.

It said the project, when completed, will be the central transportation hub for Penang, integrating Penang’s ferry, train, intercity and intra-city bus and taxi services and a monorail station.

“It will also include an integrated development comprising of commercial, residential and retail components, service facilities and car park areas, all located within an approximately 30-acre site.”

On the rationale for the joint venture, MRCB said their participation in the urban development of Penang will enable it to use its experience and expertise in property development to increase the group’s business growth and revenue.

“It is part of MRCB’s principal activities in property development and investment, construction, engineering, concession and environmental rehabilitation operations,” it added.

Meanwhile, MRCB said the proposed joint venture and the Turnkey Development contract are not expected to have any material impact on the earnings and net tangible assets of MRCB for the current financial year ending Dec 31, 2007.

By The EDGE MALAYSIA

Syed Yusof, Sultan of Selangor to buy more hotels

Businessman Tan Sri Syed Mohd Yusof Syed Nasir and his partner, Selangor's Sultan Sharafuddin Idris Shah, are planning to buy more hotels abroad to expand their business.

The duo have already bought the five-star Moose Lodge & Golf Resort, sprawled over 40ha in Rotorua, New Zealand, for RM60 million, Syed Yusof said in an interview recently.

They are using ISY Holdings Sdn Bhd as the vehicle for the acquisitions.

ISY Holdings is also the developer for the RM1.6 billion six-star Four Seasons hotel and Four Seasons service apartments in Kuala Lumpur.

Syed Yusof said the company is expected to buy as many as two hotels in Australia next year.

"We are already in talks with hotel operators in Australia," he added.

Syed Yusof, who is the chairman of pipemaker YLI Holdings Bhd, made a small fortune from the takeover of Southern Bank Bhd by Bumiputra-Commerce Holdings Bhd.

He still owns Concorde Hotel Kuala Lumpur, Concorde Hotel Shah Alam, Concorde Inn KLIA and the Planet Hollywood restaurant.

ISY Holdings is now building a 277-room Hard Rock Hotel in Penang for RM130 million, which will be operational by early 2009.

In Malacca, the company is in the midst of building the Casa Del Mar hotel and service apartments for RM65 million. The five-star project will have 54 hotel rooms and 34 apartments.

"We are looking for opportunities to acquire new hospitality projects in Malaysia and overseas and continue with hotel and resort development," Syed Yusof said.

By New Straits Times (by Sharen Kaur)

Buyers snap up Ara Hill units

RESORT STYLE: An artist's impression of the Ara Hill project

The final phase of Ara Hill, a luxury residential development by Sime Darby Property in the Klang Valley, received overwhelming response from buyers, with more than RM50 million in sales recorded over a one-week period.

Ara Hill was launched in March this year and has attracted good response from buyers.

The final phase, which offers 182 units, with bigger terraces, private gardens and outdoor pavilions, were quickly snapped up.

Apart from the larger built-up area, an added attraction of the final phase is that all units come complete with high-quality built-in kitchen cabinets and wardrobes.

Built on elevated freehold land within the prestigious Ara Damansara community, Ara Hill features two types of residences - the Resort Villas, a choice of single storey or duplex units with more than 13 luxurious design layouts ranging from 1948 sq ft, housed within a three-storey low-rise building, and the Resort Condominiums, available in four blocks of eight- to 10-storey condominiums ranging from 1442 sq ft to an opulent 4994 sq ft for the penthouses.

The Ara Hill development is the result of Sime Darby Property's efforts to create an exclusive resort-style, ultra low density residential sanctuary sprawled over 6.48 hectares.

The entire project has an estimated gross development value of RM300 million.

Ara Hill offers an extensive overall choice of more than 16 design layouts to meet the different lifestyle needs of individual residents, and prices for the units begin from RM566,900.

The targeted completion date for the entire development is 2010.

Commenting on the continued interest in Ara Hill, director of group property of Sime Darby Bhd, Datuk Tunku Badlishah said that the market recognised the value proposition that Ara Hill offers and appreciates the efforts that have gone into making the development a success.

By New Straits Times