Three-storey superlink homes launched

Luxurious: Nautilus, D’Island Residence’s latest three-storey superlink homes are priced from RM1.71mil.

LBS Bina Group Berhad (LBS) launched Nautilus, D’Island Residence’s latest three-storey superlink homes priced from RM1.71mil for land area of 24’ x 80’ and RM1.81mil for the 24’ x 100’ recently.

Inspired by the classic charm of the Nordic region as well as its renowned tradition of minimalist design, Nautilus will appeal to those with a discerning taste for subtlety and understated elegance.

The luxury Superlink homes, each endowed with an authentically Nordic essence, boast a spacious gross built-up area from 4,246sq ft for 24’ x 80’ and from 4,791sq ft for 24’ x 100’, defined by versatile en suite spaces throughout.

Distinctively contemporary in design, Nautilus offers two lavish layout choices with five bedrooms, one utility room and six bathrooms.

The architecture and overall design of Nautilus is characterised by a series of modern, symmetrical forms, enhanced by a subdued colour palette.

The spacious interior of each home is further accentuated with an expansive indoor atrium which allows for an abundance of natural light, illuminating indoor areas and bringing forth a feeling of domestic warmth.

A private roof garden serves as a natural extension into the great outdoors, facilitating spectacular views of the development’s beautifully landscaped surroundings.

The inclusion of a private in-house lift gives residents the ultimate sense of exclusivity.

Explaining the overall concept for the luxury residential development, LBS managing director Datuk Lim Hock San said, “Our idea is to capitalise on the natural terrain and the beautiful 404ha water mass surrounding the 71ha D’Island Residence development. We will use existing landscapes to bring out the best in each launched phase to create a unique experience for every homeowner.”

In addition to exclusive sunrise and sunset views right from their terraces, residents at D’Island Residence will be able to delight in the calm waters and pristine landscaping surrounding their homes.

The serene laid-back atmosphere will provide the foundation for an inspiring way of life, creating a haven for residents to unwind and recharge.

Thus far, all 122 units of Apicalia, D’Island Residence’s first phase three-storey luxury superlink units have been sold.

The recently launched 44 units of Balvia, a series of three-storey semi-detached homes, are already more than 40% sold.

D’Island Residence has an estimated GDV of RM3.6bil and is expected to take five to seven years to complete.

The development’s superlinks, semi-detached and bungalows are scheduled to be launched in 2012.

By The Star

Well connected township

Mah Sing Group previewed its new 91ha township, M Residence@ Rawang for priority registrants recently, with 80% take up of Phase 1 achieved in a single day.

The township which has an estimated gross development value of approximately RM948mil drew some 2,500 registrants since the land was acquired in October.

Good buy: Priority registrants having a first look at M Residence@Rawang.

Registrants were able to confirm their interest for properties in Phase 1 comprising 214 units of 18’x70’ link homes with built up of approximately 1,650sq ft priced from RM360,800.

Phase 2 shall be opened to meet buyers’ demand. This comprises 233 units of 22’x80’ superlink homes with built-up of approximately 2,380sq ft priced from RM558,800.

Mah Sing’s chief operating officer James Bryuns said, “M Residence@Rawang meets the current need for quality housing at accessible entry level. We believe that Phase 2 shall see equally strong interest as we are offering semi-detached layouts in our superlink homes, at link home pricing.”

The 22-footers in M Residence@Rawang have an expansive layout boasting three bedrooms with en-suites on the first floor, whilst the ground floor houses the living room, dry and wet kitchen, a guest room, bathroom and powder room. They also enjoy a generous 10ft yard area at the back.

M Residence@Rawang is well connected and is only 5km from the mature townships of Anggun 1&2@Kota Emerald and 8km from Emerald East and West. It only takes 20 minutes to get to the Rawang toll from Kuala Lumpur (Jalan Duta toll) and Petaling Jaya (Damansara toll).

In terms of distance, it is only 28km from both tolls. From the Rawang toll, it is less than 10 minutes or 10km to the project.

A major road upgrade to turn the road into a dual carriageway from the junction of the Rawang toll to the junction of the main road to Bandar Tasik Puteri is in progress, and shall improve the traffic flow along this road. M Residence@Rawang can also be accessed via the Kuala Lumpur-Kuala Selangor Expressway (formerly known as Latar Highway).

Besides Rawang town itself, the project has a large target market catchment from Kuala Lumpur, Petaling Jaya, Shah Alam, Bukit Jelutong, Subang Jaya, USJ, Kepong and Selayang who are looking for an affordable alternative in a well connected location.

Furthermore, there are large catchments of upgraders from Batu Arang, Kundang, Kuang, Sungai Buloh, in search of new township schemes offering a lifestyle concept.

Bukit Badong Forest Reserve is located next to M Residence@Rawang and extensive green reserves namely Templer’s Park, Kanching Forest Park and Commonwealth Forest Park are all within the radius of 15km of the project.

By The Star

Property market to see a gradual slowdown next year

KUALA LUMPUR: The Malaysian property market is likely to see a gradual slowdown next year, taking into consideration the uncertainty in the global economic situation.

Fiabci Malaysia president Yeow Thit Sang said the high end residential units were already seeing a slowdown both in pricing and take-up rate.

“There are fewer expatriates from multinational companies coming here and rentals with a yield of between 6% and 8% are no longer achievable. Investors in these units will have to wait longer to realise their investment. The slowdown in global economy is definitely affecting the high-end property market,” he told Bernama recently.

He also saw a fallout for office space next year, saying the category was already overbuilt and the overhang felt in the market with rental falling and a slow take-up rate.

Meanwhile, Zerin Properties chief executive officer Previndran Singhe said the slowdown in the property market would only last until the first quarter next year and the industry would be stable afterwards.

“Prices will remain stable, with asking prices, not values, becoming more reasonable as owners check their values to real pricing. At present, sentiment is down due to the eurozone financial crisis and the US double dip fears, which has been faring for a long time, but I think we are more Asia focused,” he said.

By Bernama

HK ‘Superman’ swoops on another mall

Li Ka-shing-owned Cheung Kong Group is buying The Citta, the new suburban mall in Ara Damansara

The Cheung Kong Group, owned by Hong Kong tycoon Li Ka-shing, is buying The Citta Strip Mall for an estimated RM245 million.

Sources told Business Times that the purchase was done through Cheung Kong Group’s ARA Asia Dragon Fund.

Citta, the new suburban mall in Ara Damansara, is 70 per cent-owned by German real estate fund SEB Asset Management and 30 per cent by property developer Puncakdana Group.

“There are a few conditions precedent that have to be met before the deal is completed and one of it is state approval,” a source told Business Times.

Messages left at the office of Mah Siew Sian, the managing director of Puncakdana, were not returned.

The open air shopping mall, with some 424,467 sq ft of nett lettable space, opened for B4business in April 2011.

The mall covers three floors, excluding the basement and rooftop, and has over 800 car park bays.

Tenants in the mall include Harvey Norman, MBO cinema, Pappa Rich, Chili’s, Julia Gabriel, RakuZen and Anjappar Restaurant.

Li, who is in the list of Asia’s richest men, is known as “Superman” in Hong Kong due to his deal-making ability.

His Cheung Kong conglomerate is one of Hong Kong’s biggest property developers and owns the world’s largest operator of container ports, among others.

Cheung Kong’s affiliate, ARA Asia Dragon Fund, bought two properties in Malaysia last year – One Mont’ Kiara in Kuala Lumpur and Aeon Bandaraya Mall Melaka – for a total of RM710 million.

In May, ARA Asia Dragon Fund won the bid for three shopping complexes – Klang Parade in Selangor, Ipoh Parade in Perak and Seremban Parade in Negri Sembilan.

It paid some RM450 million to TMW Asia Property Fund.

By Business Times

Consultants: Right timing for PNB's RM1.74bil London property buy

PETALING JAYA: Permodalan Nasional Bhd's (PNB) reported 350mil (RM1.74bil) purchase of Milton & Shire House building in London is a good move owing to the weak pound sterling and the European economic woes, said property consultants.

The Times reported recently that PNB had bought the 15-floor complex from US-based fund manager Beacon Capital Partners.

The complex is said to have 460,000 sq ft of office space, and houses global law firm Linklaters which is paying RM100mil in rental annually on a lease that expires in 2026.

CB Richard Ellis executive chairman Christopher Boyd said that it was a unique time to buy real estate in London, as traditional major funds from the United States and Europe were not in the market due to the global economic slowdown.

“So you have less competition for buildings like this. The downside risk is minimal as PNB bought the building with a long lease,” he said.

Property consultancy DTZ Nawawi Tie Leung executive director Brian Koh pointed out that London was a global financial and commercial centre, and had some of the most expensive real estate in the world.

“In good times, it is very difficult to penetrate the London market due to high competition for prime properties, which accounted for its low historical yield,” he said.

Koh said the weak pound and the liquidity crunch in Europe, due to the eurozone debt crisis, had made it easier for players from the Middle East, South Korea and Malaysia, among others, to enter the London real estate market at reasonable prices.

The Times said it was the “largest single asset transaction in central London this year”.

It also said PNB was believed to have allocated 1bil (RM4.98bil) for London investments.

The daily quoted PNB president and group chief executive Tan Sri Hamad Kama Piah Che Othman as saying the transaction was “part of a strategic plan in acquiring premium assets in major cities globally after the acquisition of our maiden overseas property, Santos Place in Brisbane last year”.

PNB reportedly bought the upmarket office block in Brisbane for more than A$290mil (RM931mil).

The 37-storey building has 373,508 sq ft of lettable space with about two-thirds of that leased to Australian oil and gas giant, Santos.

A recent StarBiz report quoted sources as saying PNB was looking to invest in properties primarily in London, Sydney, Melbourne and Perth.

PNB's management could not be reached for comments at press time.

By The Star