Property developer Hua Yang Bhd has launched its first ever small office, home office (SOHO) development, Flexis@One South.
The first of its kind in Seri Kembangan, Flexis@One South features various architectural innovations and contemporary design styles that appeal to young, urban buyers especially first-time homeowners.
"Estimated at RM200 million in gross development value, Flexis @One South is the fourth phase of the entire RM920 million One South integrated development.
"It reflects Hua Yang’s continued growth as a developer whose quality products are still offered at an affordable price," it said in a statement today.
Priced from RM250,000, the SOHO units are suitable for individuals who are looking to purchase their first home or setting up a home office, it added.
Overall, One South consists of a soon-to-be completed street mall and two phases for serviced apartments, Parc@One South and Gardenz@One South.
Hua Yang said phase five and six are the final development, consisting of the last block of serviced apartment and two blocks of office towers.
By Bernama
Tuesday, May 15, 2012
Malaysia draws foreign property buyers
Malaysia is slowly becoming a popular destination for foreign property buyers around the region, particularly Singaporeans, not only because of geographical reasons but also of its affordability.
Chief Executive Officer and Founder of PropertyGuru Group Steve Melhuish said there was an enormous amount of pressure among Singaporeans to look for affordable housing especially with government housing becoming increasingly out of reach.
Besides, with the hike in sellers' stamp duty to 16 per cent by the Singapore government recently, he said it had heavily impacted on foreign investors who wanted to buy additional properties.
"People are becoming less positive in the Singapore property market. About 26 per cent of the respondents we interviewed recently were considering investing in overseas properties and 35 per cent were actually eyeing Malaysian properties," he said today in conjunction with the rebranding of its Malaysian property portal, PropertyGuru.
The portal, formerly known as HomeGuru, has presence in ten countries including offices in Singapore, Malaysia, Indonesia, Thailand and partnerships with leading property websites in Australia, Hong Kong, India, Macau, Vietnam and China.
Melhuish said the average price of city apartments in Singapore were almost eight times higher than in Malaysia while rental yields in Malaysia were two to three times higher than its republic neighbour.
"A lot of expatriates working in Singapore are now living in Johor Bahru and travelling back and forth to the island everyday," he said.
Meanwhile, Group Country Manager John Paul Sta Maria said the rebranding of HomeGuru and its northern Malaysia portal, FullHouse, to PropertyGuru Malaysia, had many advantages for foreign property buyers considering the volume and frequency of buyers looking for Malaysian and Singapore properties online.
Since going live in January 2011, HomeGuru has achieved over 120,000 property listings and is used by 3,500 real estate agents.
To strengthen its rebranding exercise, the group will invest more than RM5 million on advertising and publicity to build its brand presence across the nation.
By Bernama
Chief Executive Officer and Founder of PropertyGuru Group Steve Melhuish said there was an enormous amount of pressure among Singaporeans to look for affordable housing especially with government housing becoming increasingly out of reach.
Besides, with the hike in sellers' stamp duty to 16 per cent by the Singapore government recently, he said it had heavily impacted on foreign investors who wanted to buy additional properties.
"People are becoming less positive in the Singapore property market. About 26 per cent of the respondents we interviewed recently were considering investing in overseas properties and 35 per cent were actually eyeing Malaysian properties," he said today in conjunction with the rebranding of its Malaysian property portal, PropertyGuru.
The portal, formerly known as HomeGuru, has presence in ten countries including offices in Singapore, Malaysia, Indonesia, Thailand and partnerships with leading property websites in Australia, Hong Kong, India, Macau, Vietnam and China.
Melhuish said the average price of city apartments in Singapore were almost eight times higher than in Malaysia while rental yields in Malaysia were two to three times higher than its republic neighbour.
"A lot of expatriates working in Singapore are now living in Johor Bahru and travelling back and forth to the island everyday," he said.
Meanwhile, Group Country Manager John Paul Sta Maria said the rebranding of HomeGuru and its northern Malaysia portal, FullHouse, to PropertyGuru Malaysia, had many advantages for foreign property buyers considering the volume and frequency of buyers looking for Malaysian and Singapore properties online.
Since going live in January 2011, HomeGuru has achieved over 120,000 property listings and is used by 3,500 real estate agents.
To strengthen its rebranding exercise, the group will invest more than RM5 million on advertising and publicity to build its brand presence across the nation.
By Bernama
SP Setia arm buys land for RM186m
SP Setia Bhd's wholly-owned subsidiary, Intra Hillside Sdn Bhd, is acquiring 8.523 hectares of freehold land in the north-east Penang Island district of Timor Laut for RM185.645 million.
In a statement to Bursa Malaysia here today, the property developer said about 10 per cent of the purchase consideration amounting to RM18.564 million and the balance of RM167.081 million will be paid within three months of the sale and purchase agreement.
The proposed acquisition is expected to be completed during the second half of the financial year ending Oct 31, 2012.
The land acquisition would provide a rare opportunity for SP Setia to acquire land and expand its presence in the northern tip of Penang island.
By Bernama
In a statement to Bursa Malaysia here today, the property developer said about 10 per cent of the purchase consideration amounting to RM18.564 million and the balance of RM167.081 million will be paid within three months of the sale and purchase agreement.
The proposed acquisition is expected to be completed during the second half of the financial year ending Oct 31, 2012.
The land acquisition would provide a rare opportunity for SP Setia to acquire land and expand its presence in the northern tip of Penang island.
By Bernama
Emas Kiara subsidiary buys land for RM5.3mil
KUALA LUMPUR: Emas Kiara Industries Bhd (EKIB)'s wholly-owned subsidiary, Noblecorp Sdn Bhd, has acquired land in Kulai, Johor, from Creative City Development Sdn Bhd for RM5.258mil.
The company would obtain a bank loan to complete the acquisition which would not only benefit the group but also help diversify into different businesses including investment.
In a filing with Bursa Malaysia, EKIB said the property outlook in Johor was expected to be positive taking into consideration the advanced stage of completion of major infrastructure works.
“Major projects in Iskandar Malaysia are coming on this year and the investment prospects enhanced by the Economic Transformation Programme would also contribute to the overall positive outlook,” it added. - Bernama
Barring unforeseen circumstances, the acquisition is expected to be completed within three months.
By Bernama
The company would obtain a bank loan to complete the acquisition which would not only benefit the group but also help diversify into different businesses including investment.
In a filing with Bursa Malaysia, EKIB said the property outlook in Johor was expected to be positive taking into consideration the advanced stage of completion of major infrastructure works.
“Major projects in Iskandar Malaysia are coming on this year and the investment prospects enhanced by the Economic Transformation Programme would also contribute to the overall positive outlook,” it added. - Bernama
Barring unforeseen circumstances, the acquisition is expected to be completed within three months.
By Bernama
Dijaya gets SC nod for RM850mil loan stocks issuance
KUALA LUMPUR: Dijaya Corporation Bhd has received the Securities Commission's approval to issue up to RM850mil nominal value of loan stocks.
It said on Tuesday the SC had vide its letter, dated May 11, approved the issuance of the redeemable convertible unsecured loan stocks (RCULs).
To recap, the RCULs are part of a corporate exercise wherein Dijaya had recently entered into agreements with several vendors for a proposed acquisition of 73 properties, comprising 49 parcels of land and 16 buildings, for RM949.9mil.
The proposed acquisition would be satisfied by cash totalling RM250mil, while the balance would be through the issuance of a 3% coupon RCULS, with a staggered conversion price range of RM1.30 to RM2.50 over a 10-year period.
Dijaya's major shareholder and group CEO Tan Sri Danny Tan had then said the amalgamation exercise was to consolidate all property development and investment activities into Dijaya, while avoiding businesses that are conflicting or competing with its interest.
The corporate exercise would see Dijaya's land bank increase to 870 acres and the group's total gross development value would increase to RM37bil.
In addition, the investment properties' net lettable areas for Dijaya would increase to 1.4 million sq ft. The additional properties were expected to generate a more stable and recurring income for Dijaya.
The parcels of land to be acquired were located within Kuala Lumpur, Johor Baru, Penang as well as in Kota Kinabalu and Sandakan.
By The Star
It said on Tuesday the SC had vide its letter, dated May 11, approved the issuance of the redeemable convertible unsecured loan stocks (RCULs).
To recap, the RCULs are part of a corporate exercise wherein Dijaya had recently entered into agreements with several vendors for a proposed acquisition of 73 properties, comprising 49 parcels of land and 16 buildings, for RM949.9mil.
The proposed acquisition would be satisfied by cash totalling RM250mil, while the balance would be through the issuance of a 3% coupon RCULS, with a staggered conversion price range of RM1.30 to RM2.50 over a 10-year period.
Dijaya's major shareholder and group CEO Tan Sri Danny Tan had then said the amalgamation exercise was to consolidate all property development and investment activities into Dijaya, while avoiding businesses that are conflicting or competing with its interest.
The corporate exercise would see Dijaya's land bank increase to 870 acres and the group's total gross development value would increase to RM37bil.
In addition, the investment properties' net lettable areas for Dijaya would increase to 1.4 million sq ft. The additional properties were expected to generate a more stable and recurring income for Dijaya.
The parcels of land to be acquired were located within Kuala Lumpur, Johor Baru, Penang as well as in Kota Kinabalu and Sandakan.
By The Star
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