Easy ownership scheme for Mah Sing property

Property developer Mah Sing Group Bhd is offering attractive price rebates in 11 projects in Kuala Lumpur, Penang and Johor in conjunction with its 18th anniversary celebrations.

Embarking on a property promotion exercise over three months this Saturday, the road show will be held in Kuala Lumpur, Penang and Johor with the theme, Realizing Dreams.

The launch at Shangri-La Hotel Kuala Lumpur on June 16 will have activities for the whole family and will continue the next day. The celebrations which will be attended by celebrities will include entertaining shows.

The other scheduled venues are Equatorial Hotel in Penang from June 22-23 and KSL Hotel in Johor Baru from June 29-30 .

To be hosted by emcees Xandria Ooi and Kevin Chong, the KL launch will feature the China Bond Girls and Shanghai Star Acrobatic Ballet during the opening ceremony at 10.30am.

The internationally-acclaimed China Bond Girls musical group will play instrumental hits while the Shanghai Star Acrobatic Ballet will perform gravity-defying feats over the weekend. The performers will also be in Penang and Johor Baru.

A series of informative talks will include tips for property buyers on enhancing their living space. Experts will teach homeowners on the fine art of cooking, gardening and interior decorating.

Local celebrity Chef Wan will be cooking up a storm at all three venues. Furthermore, Chef Daisy, who specialises in organic recipes and Chef Michael Elfwing of Senses Restaurant in Hilton Kuala Lumpur, will demonstrate their cooking skills during the road show.

Sharing their expertise on transforming a living space into one that resonates with good energy will be Feng Shui guru David Koh and Vasthu Sastra expert T. Selva.

On June 17, a LEED accredited professional will talk about how environmentally-sustainable buildings should be built, rated and occupied. There will be a special animation workshop for teenagers and young children as well as an entertaining robotics dance. Children’s programmes will also be presented on Samsung’s Smart televisions to keep the youngsters occupied throughout the duration of the road show.

Realizing Dreams Showcase
This is the first time the Mah Sing Group is conducting a property and lifestyle showcase on such a scale.

The company is offering special incentives from June 16 to Sept 15 to reward their property buyers who total 12,000 over the past 18 years. The promotion exercise is also aimed at new buyers.

Eleven developments that include landed and high-rise residential property as well as commercial projects in the Klang Valley (including KL), Penang and Johor Baru will be promoted.

Properties have always been viewed as one of the best hedges against inflation, and there are still many buyers looking for good properties in prime locations for their own use or investment.

One of the key objectives of the Realising Dreams Showcase is to make it easier for buyers to own their “dream properties”, with affordable down payment schemes. This include having to pay only 2% down payment via 0% easy payment programmes stretching up to 36 months with selected banks.

Additionally, qualified purchasers will also benefit from the Anniversary Lifestyle Package of up to RM488,888 depending on the property purchased.

During the three-month celebration, property buyers will enjoy benefits of the developer interest bearing scheme (DIBS). They only need to pay the down payment and nothing else until the completion of the property. The properties under this scheme include:

• Icon City (Petaling Jaya)
• M City (Jalan Ampang)
• Icon Residence Mont’ Kiara
• Garden Residence & Garden Plaza (Cyberjaya)
• Kinrara Residence (Kinrara)
• Lagenda@Southbay (Penang island)
• Southbay Plaza (Penang island)
• Austin Suites (Johor Bahru)
• Non-DIBS projects include M Residence (Rawang) and Sierra Perdana (Johor Baru).

Mah Sing will also absorb the legal fees for the sales and purchase agreement and loan agreement for all 11 selected projects.

During the showcase, banks participating in the property promotion will offer “Pre-Approved Loan Assessment” as an added convenience for buyers of Mah Sing properties.

Mah Sing’s M Club members - involving loyal customers - will enjoy “Repeat Purchase Discounts” of up to 1.8% while all purchasers will enjoy “Buyer-Get-Buyer Rebates” of 1%.

There will also be weekly activities in all sales galleries of the Mah Sing Group.

By The Star

Gerbang Nusajaya, with RM18bil GDV, to be launched by end-year

KUALA LUMPUR: UEM Land Holdings Bhd will launch the 4,500acre Gerbang Nusajaya by the end 2012, which will have a gross development value of RM18bil. The project would be developed over 25 years.

UEM Land managing director Datuk Wan Abdullah Wan Ibrahim said the company would form joint ventures as well as look for strategic investors to develop the land.

Abdullah: ‘We are not looking to sell land.’

“We are not looking to sell land,” he said. “We want to generate more recurring income. Gerbang Nusajaya will not just generate income, but also create employment. We will have activity malls, campus offices, trade centres and residential development, among others.”

He also said some RM4.5bil of development projects would come onstream this year and that UEM Land had a target to complete RM3bil worth of sales. Last year, it completed RM2.2bil worth of sales.

Over the next few weeks, UEM Land will be launching its CS-2 apartments in Nusajaya, which Abdullah said would be priced attractively.

He said UEM Land had some RM900mil in cash and a gearing level of about 0.24 times, which gave it a comfortable war chest to acquire more land.

Abdullah said 2012 was its tipping point', and that he would not be surprised if revenue from Nusajaya overtook that from its subsidiary Sunrise Bhd. For 2011, Nusajaya's revenue contribution was 46% versus Sunrise' 54%. In terms of net profit contribution, they were almost evenly matched.

By The Star

UEM to start work on Johor project by Dec

UEM Land Holdings Bhd, Malaysia's largest property developer by market capitalisation, aims to start works on Gerbang Nusajaya, its new project in Johor worth RM18 billion, by the end of the year.

The 1,875ha development is located next to Nusajaya, one of five key nodes of Johor's Iskandar Malaysia economic growth corridor.

UEM Land, the real estate investment and development arm of UEM Group Bhd and Khazanah Nasional Bhd, is the master developer of Nusajaya.

Its managing director and chief executive officer Datuk Wan Abdullah Wan Ibrahim said the layout plan for Gerbang Nusajaya had been submitted. The project will take 25 years to develop.

"We hope to hit the ground before the end of this year. We are not sure when we will put the products into the market but hope to come up with something by year-end," he said.

Wan Abdullah, speaking to reporters yesterday after the company's shareholders meeting, said the key strategy behind Gerbang Nusajaya is to attract Singaporeans and create jobs.

He said UEM Land will not sell land this time but look for strategic partners to jointly develop it.

"UEM Land has been criticised for lumpy performance from land sales. But there is a major shift now with 74 per cent contribution from property development.

"In the long term, we hope to increase contribution from all our divisions, including investment properties and management," he said.

Gerbang Nusajaya will have residential precincts, a golf course, campus offices, activity-based retail and an industrial park.

"The market is beginning to shine for south Johor. We are leveraging on our proximity to Singapore. If we are not next to Singapore, I don't think we can enjoy the benefits that we are reaping like demand for our properties, and price increases," he said.

CIMB Research is maintaining its trading "buy" call or target price for UEM Land at RM2.56.

Its research head Terence Wong said the potential re-rating catalysts include positive news flow on Nusajaya and strong sales in the second half of 2012.

The stock closed two sen down yesterday to RM1.94

Wan Abdullah said UEM Land will launch new catalyst projects in Johor, including condominiums.

He hopes UEM Land will do better in the current fiscal year, helped by sales from its on-going projects in Johor, Greater Kuala Lumpur and Canada.

UEM Land targets to launch projects to the tune of RM4.5 billion this year, and achieve RM3 billion in sales. It has so far achieved sales of RM600 million.

By Business Times

Axis-REIT buying two buildings in PJ

KUALA LUMPUR : Axis Real Estate Investment Trust's (Axis-REIT) trustee, OSK Trustee Bhd, has entered into two sales and purchase agreements to acquire Wisma Academy and the Annex in Petaling Jaya for RM85m il from Academy Resources Sdn Bhd.

“The proposed acquisitions will also enable Axis-REIT to diversify and enlarge its portfolio of properties and is expected to benefit the trust in the long-term as a result of economies of scale,” said Stewart LaBrooy, chief executive officer of Axis REIT Managers Bhd, the manager of the trust.

He said the acquisition was in line with the trust's investment objectives as well as its growth strategy which was to provide unitholders with stable income distribution.

By Bernama