Reasonably priced homes

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Indah Jaya Development Sdn Bhd, a subsidiary of Low Yat Group, will soon unveil the second phase of its Garden Heights residential development, in Rawang within the 2,670-acre (1,080ha), Bandar Tasik Puteri (BTP) township.

It comprises 123 units of valuefor- money double-storey terrace houses with a land area of 18ft by 75ft with a built-up area of 148.64sqm (1,600sq ft)

The second phase of the Garden Heights residential development is located within Bandar Tasik Puteri (BTP) township in Rawang.

This guarded community known as BTP 4, spans an expansive 6.61 acres (2.68ha). The houses have four bedrooms and three bathrooms each.

Its proximity to the KL-Kuala Selangor Expressway (Latar Expressway) is poised to give the over 50,000 (BTP) residents valueadded benefit as a link road will be built to shorten the distance to the Kuala Lumpur city centre.

Indah Jaya Development marketing and business development senior manager Joseph Chia said currently BTP residents take about 30 minutes to get to KL via the North South Expressway, Latar Expressway and Guthrie Expressway.

“The Latar Expressway already exists, therefore we foresee that a link road in the future will provide greater convenience to residents and boost market appreciation,” he said, adding that Garden Heights Phase 2 is expected to be completed in 2014.

As landed properties are becoming few and far between, city dwellers have found comfort in suburban areas that are still within reach via carefully planned expressways.

The increasing demand for landed property continues to surge, especially for first-time homebuyers and families looking for a lifestyle upgrade.

Garden Heights Phase 2 is perfect for city dwellers who want to escape from the hustle and bustle of the city, and yet want a landed property within serene and natural surroundings. The cost of the two-storey terraces which are affordably priced ranges between RM290,000 and RM478,000. It offers long-term value for homebuyers and boasts spacious, modern designs with a 24ft (7.3m) driveway to fit two cars.

Garden Heights Phase 2 homes comprise 123 units of value-for-money double-storey terrace houses.

Aside from that, the renowned Bandar Tasik Puteri Golf & Country Club, neighbouring industrial facilities and the relatively new Aeon Anggun Rawang Shopping Centre which is 10 minutes away, adds to the market appreciation in BTP.

Future phases have been earmarked to comprise double-storey link houses, semi-detached, cluster homes and bungalows boasting modern architecture, in a safe environment within a 24-hour guarded community.

Bookings for Garden Heights Phase 2 started on May 26 with a fee of RM1,000. Prospective buyers will also enjoy early bird discounts, no legal fees for loan and Sales & Purchase Agreement (SPA) and Developer Interest Bearing Scheme (DIBS).

Low Yat Group is a well-diversified developer and investment group in Malaysia. The group, which was initially involved in private and government construction projects, has now diversified into trading, manufacturing, plantation, hotel and tourism industries in Malaysia, Japan, Australia, China and Indonesia.

Quote from The Star Property 30 May 2012

Guocoland to invest RM12.5b in eco-city

PETALING JAYA: Hong Leong Group's property arm Guocoland (M) Bhdwill invest RM12.5bil under the Greater Kuala Lumpur National Key Economic Area for the development of a 4,000-acre eco-city in Sepang.

The gross development value of the Sepang International City is RM48bil and the project is expected to contribute RM1.34bil to the country's gross national income and create 4,712 jobs.

The investment is the biggest from a single Entry Point Project (EPP) partner under the new 21 Economic Transformation Programme (ETP) projects announced by Prime Minister Datuk Seri Najib Tun Razak at an ETP Progress Update briefing yesterday.

Sepang F1 Circuit

Managing director Yeow Wai Siew said Guocoland was in the midst of getting the approvals for construction works to begin.

“We are now going through the proper application and planning stage with the Federal and State Governments. Hopefully we will be able to start the development in one-and-a half years' time,” he said.

Yeow said Guocoland was also talking to international investors for the project. “There are a lot of investors from East Asia now, especially from Japan and China, with some from Singapore,” he said.

He noted that since Japan's March 2011 tsunami disaster, Japanese investors had been looking abroad for property that they could use for emergencies.

The seafront development in the southern corridor of Selangor will include commercial, business, residential and leisure developments, a hub for institutions of higher learning and a large world-class urban park modelled after the Central Park in New York City.

Quote from The Star 29 May 2012  By LIZ LEE

For any property inquiries or real estate services, kindly visit jacklimproperty.com 

Bandar Rimbayu (was called Canal City before)

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IJM has just announced their project Bandar Rimbayu today at The Star today (30 May 2012) which was so called Canal City before.

This project was heard about 2002-2003 or even earlier, but up to now still don't have any new progress or breakthrough. Follow by the news announcement today, we need to see some new breakthrough before fall to believe whether it's a palace in the sky or a project to be.

Some of the sources of Bandar Rimbayu (or Canal City) from previous internet information and sharing.

Article below share on lowyat forum by kh8668 during March 24 2011 which the news was on 7 October 2010

"

Dated 7 October 2010
Canal City land deal at the final stage. The Canal City land deal is currently at the final stage. Upon relocation of the squatters and the necessary steps to settle the squatters, the land is staged to become a major township development for IJM Land in the coming years. 

From our recent meeting with management, we gather that IJM Land has recently signed a termination agreement with the state government for the construction of canal. To recap, under the agreement signed with the previous state government, a 18-km canal is required to be built for flood mitigation, linking Sungai Klang and Sungai Langat. Since the construction of the Smart Tunnel, the canal is no longer needed as part of the flood mitigation plan. 

For the development to be taken off, the JV company (50% with Keuro) will have to incur some cost for the land, including the construction of low-cost component for squatters and acquisition of replacement oil palm land for squatters. 

We estimate that these would translate to a price of about RM4-6 psf for the land, which is rather attractive in our view, as it is getting very difficult to secure a large parcel of land in Klang Valley. 

Based on management’s guidance, the leasehold development, which will be re-named later, will worth a GDV of about RM4bn, but we think there is further upside potential given IJMLD’s brand name, innovative value- added concept and step-up pricing for its property launches. 

The land is surrounded by a few townships - Putra Heights (by Sime Darby Property), Kota Kemuning (by Gamuda) and mid-end development Bandar Saujana Putra (by LBS). There will be two key access to Canal City land: 

(i) Behind Kota Kemuning; and 

(ii) Through Saujana Putra Interchange. 

We think IJMLD’s range of properties offered will be similar to Putra Heights and Kota Kemuning. The mid-end development by LBS should not affect the development potential of Canal City land, considering the IJMLD’s track record on quality, value-added concept with modern design. 

Furthermore, we understand that Putra Heights project is almost fully sold and Kota Kemuning is a matured township. Hence, we expect some spilt-over demand from the neighborhood.  "

Article below share on lowyat forum by kh8668 during March 24 2011 which the news was on 7 October 2010 Yes, you can see the news report so convincing that time on 2010 that the project going to take off anytime. And now until 2012, there is nothing done and they have change their name to Bandar Rimbayu.

Some more interesting photos that was shared followed this sharing (some of the photos was sourced from RHB Invest):

IJM Land unveils RM11b township development

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PETALING JAYA: IJM Land Bhd has unveiled its newest development – the RM11bil Bandar Rimbayu township development which focuses on sustainable lifestyles and strong connectivity elements.

Bandar Rimbayu is a mixed-township spread over 1,879 acres close to Kota Kemuning.

“The Bandar Rimbayu township reflects IJM Land’s vision of what townships of the future would look like. The green township concept is in response to the demand from residents of the future who are becoming increasingly concerned about giving back to the earth. Also, homeowners of the future do not just want a house, they want a residence complete with a holistic lifestyle, thus we are offering a carefully planned and designed township that emphasises better quality of life,” said IJM Land managing director and chief executive officer Datuk Soam Heng Choon.

In addition to green living, Soam said the connectivity was also very important for Bandar Rimbayu.

“This connectivity covers the physical where we make it convenient for residents to move around within the township and also beyond,” he said.

In conjunction with the launch of the project, IJM Land has signed a service agreement with Telekom Malaysia Bhd (TM) for the provision of high speed broadband (HSBB) infrastructure in Bandar Rimbayu.

“With the collaboration, we will be offering TM’s HSBB service, UniFi, to residents of our first phase free of charge for one year,” he said.

Bandar Rimbayu’s identity as a green township is further expressed via sustainable use of natural resources and environmental consciousness. Most notably, there will be more than 50,000 trees, palms, shrubs, flowering plants, aquatic plants, herbs and climbers around The Arc and Sales Gallery.

Divided into four precincts, Bandar Rimbayu consists of Flora, a mixed residential area, Fauna, a mixed residential area with amenities including shops and a school, Bayu, a 280-acre high-end waterfront residential development by the lakeside; and the commercial hub, which include a canal, town square and service apartments.

Bandar Rimbayu is targeted for completion within 15 years and will boast about 10,000 residential units. The launch of its maiden product – The Chimes, consisting of 526 units of link homes, is targeted for the second half of this year.

Quote from Star Property 

May 30, 2012

Malaysia is 9th hottest real estate market in the world

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Based on research by global real estate consultancy Kinight Frank, CNBC has ranked the world's top ten hottest real estate markets on which Malaysia takes the ninth spot.

The list comprises ten countries judged on their average growth in housing prices from Q4-2006 to Q4-2011.

Malaysia's five-year price growth was recorded to be 28.5 percent and is anticipated to be propelled further should the government follow through with recently announced deliberations to increase the property price threshold for foreign investors.

According to the CNBC-Knight Frank report, prime property in Kuala Lumpur (KL) marked approximately US $500 (RM 1,515) psf last year while the total supply of apartments in the capital by the end Q4-2011 was 29,634.

Last month, IP Global had named KL as the top destination for property investors across Asia-Pacific seeking to diversify their portfolios with affordable properties, mostly due to Malaysia's economic stability admist financial crises in Europe and the United States.

The following is CNBC's full list of top 10 hottest property markets in the world and their respective 5 year price-growth:

1. China           (110.9 percent)

2. Hong Kong   ( 93,7 percent)

3. Israel            ( 54.4 percent)

4. Singapore    ( 50.5 percent)

5. Colombia      ( 39.4 percent)

6. Taiwan         ( 30.1 percent)

7. Canada        ( 28.7 percent)

8. Norway         ( 28.7 percent)

9. Malaysia      ( 28.7 percent)

10. Swtizerland ( 27.5 percent)

Image : CNBC

Quote from Widya Sharkawi @ propertyguru.com.my

IOI to launch Skypod Residence @ Puchong Jaya, Puchong

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It is been few months we saw IOI set up the notice board in front their site which is directly located behind IOI business park, the series of yellow building with black hat on top just opposite IOI Mall.

This time IOI has come up with another idea on Puchong Jaya after have building enough (or over supply) of shop houses and office space, they going to build a service apartment on there.

Service apartment, with the retail lot downstairs and 640 units of residential units upstairs. Is impressive as the location is just walking distance to most of the Puchong Jaya happening area, such as IOI Mall, IOI Boulevard, IOI Business park and all those banks and restaurants which arranged neatly in front your residence,

Some quick brief quote from IOI website:


Total Residential unit: 640 units

Built up: from 632 sf - 1220 sf
Block A:  ~ 366 units
              ~   16 units per floor
              ~     6 lifts


Block B:  ~  274 units
               ~   12 units per floor
               ~     4 lifts


Total Retails: 20 units
Total Retail Offices: 40 units
Total Shops: 8 units

However the price is more impressive when we try to make calls to IOI office to find out what is the indicative price, they mentioned it's about RM 500 per sf and of course you will know what it means for "indicative price"

Then we start to received notification SMS and facebook update from IOI that the price is starting from RM 383,000 for the smallest unit (should be), which is about 632 sf, and when you put all this in your calculation, it's about RM 600++ per sf. 

WOW!! That's is a quantum leap on the price, if you can compare to Sutramas condominium, which was build by IOI as well and same row with the going to be Skypod Residence, it's about RM 250-300 per sf, and the size is starting from 1000 sf ++

However, whether it's worth it to buy or not, still leave to you folks to decide, the official launching going to be tomorrow and you can pay a visit to busy around, and take care with your loan ability before signing anything.

Marketing SMS by IOI Properties

Facade of Skypod Residences

Retail lot within the Skypod Residences

Site plan of Skypod Residences, entrance will be a big concern as there is limited existing roads to enter Skypod Residences

Location Map of Skypod Residences

If you wish to have the full brochure, can download from here:
http://www.skypod.com.my/SkypodBrochure.pdf

Game change in PJ

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It is not a question of whether the value of residential property in Petaling Jaya will hit RM1,000 per square foot but it is a question of when.

Recently, while attending a property event in Ipoh, Christopher Boyd, executive chairman of CB Richard Ellis (CBRE) Malaysia, commented to the audience that it was only a matter of time before residential property prices in PJ topped RM1,000 psf.

Intrigued by what was said by Boyd – a veteran in the property industry with over 30 years in Malaysia and another 12 years of practice in the UK, Australia and Singapore – we have been looking out for signs when such a phenomenon will likely occur.

Several recent developments appear to propel property prices to that level. Obviously, we can’t just look at residential projects per se but all property developments which affect demographic changes and factors which affect property developments.

Tower 4 and Tower 5 of Jaya33 Cybercentre will have 350,000sq ft of lettable space out of the gross of 500,000sq ft when completed in December this year.

Section 13 

Today’s launch of the latest phase of the Jaya33 commercial development in PJ Section 13 - known as Jaya33 Cybercentre - appears to be another catalyst that will affect property prices. Although, this development is all about leasing “hyperoffice” space and not a residential development but the ramifications are manifold.

Just before the launch, Jaya33 marketing director L.C. Toh and general manager Tan Kok Leong explained why their project was no ordinary office building development.

The two 22-storey buildings – Tower 4 and Tower 5 – will have 350,000sq ft of lettable space out of the gross of 500,000sq ft when completed in December this year. The first two storeys will be retail space of 23,000sq ft in total and the next six storeys will be parking space. The development site for the two new towers spans 2.2 acres.

The data centre which is located on Level 9, 10 and 11 of Tower 5 will offer 57,000sq ft of space that will meet Tier 111 Data Centre requirements. Said to be the most sophisticated centre of its kind in PJ, it is equipped with its own 33kva substation and a dual source of power intake supplied by Tenaga Nasional Bhd (TNB). This means that there are fail-safe measures to protect critical, high-tech operations crucial to multinationals especially corporations dealing with Information and Communication Technologies.

Rental rates are RM8 psf for the ground floor, RM6 psf for the first floor and between RM7.50-RM8 psf for the data centre. The general office space rental rate is RM4.50 psf.

“To put in a 33kva substation is no small peanut,” said Toh. “And the upgrade to a dual power source means an additional RM8mil investment. The entire development cost for Tower 4 and Tower 5 amounts to RM185mil.”

She added: “We are looking at what the market needs rather than following others. For example, when we coined the term, ‘hyperoffice’, everyone else followed suit.”

Jaya 33 Sdn Bhd has teamed up with MyTelehaus Sdn Bhd to develop the data centre at Jaya33. With over 30 years of experience in developing data centres, MyTelehaus is also a “wholesaler” of data centre space in the country.

Tan pointed out that the Government’s Economic Transformation Programme has 131 Entry Point Projects (EPPs) and the Jaya33 Cybercentre is one of MyTelehause data centre locations. The development of data centres is part of the national strategy to position Malaysia as a world class hub for such centres. The cybercentre will also be compliant with MSC requirements as the application is in the final stages of approval.

What such developments mean is that when such buildings are successfully leased out, the spin-off economic effects will be apparent. How the location of regional headquarters – targeted by the leasing agents of Jaya33 Cybercentre – affect the residential property market in PJ will be pretty obvious. And there are already property projects underway to capitalise on such a scenario.

The site of the PKNS building in the PJ has been earmarked for re-development.

PJ State 

But not everyone in PJ welcomes the mushrooming of property developments or re-developments.

For instance, objections from PJ resident associations against “massive” projects seem to have stalled the re-development of the PKNS (Selangor State Development Corporation) headquarters involving a site of 9.85 acres in Section 52 or PJ State. But then again, this project was also mired in other controversies.

But things seem to be moving along with the V Square project on 2.6-acre site in Section 14 and the 33-storey PJX (PJ Exchange) office tower, also in Section 52.

And back in PJ Section 13, an industrial zone which has increasingly seen factories replaced by commercial properties, the latest phase of the Jaya One mixed development seem to be progressing well with only 15% of the 400 retail, residential and office units left for sale. Specifically, there 43 residential units, 16 office units and eight retail units still available.

The residential units are in the form of 240 serviced apartments within two blocks. The units are selling between RM600-RM650 psf.

The latest phase of development of the Damansara Uptown commercial centre has commenced.

Damansara Uptown 

Meanwhile, selling between RM750-RM800 psf, the 380 serviced apartments at the new Uptown Residences development are part of another upscale project in Damansara Uptown. Unlike many leasehold sites in PJ such as those in Section 13, this project is on freehold land and is undertaken by Dutamasa Sdn Bhd, a subsidiary of the See Hoy Chan group.

The apartments in Uptown Residences span two residential towers which range in size from 1,600sq ft, 1,900sq ft, 2,200sq ft to 2,500sq ft. The Family Tower will have 206 units while the Lifestyle Tower will have 174 units. The expected date of completion is by December, 2014.

And in tandem with the rise of Uptown Residences will be the development of a 400,000sq ft mall and five commercial towers which are touted to house multinational corporations such as Deloitte, FedEx, L’Oreal, Lenovo, Symantec and Unisys.

See Hoy Chan has also awarded CapitaLand’s subsidiary – The Ascott Limited – a contract to manage 200 “serviced residences” under the Somerset brand. The property will offer furnished apartments ranging from studio units as well as one- and two-bedroom units with a fully-equipped kitchen. The Somerset Damansara Uptown Petaling Jaya is expected to open in 2016.

Barrier 

Tracking the prices of residential property developments in PJ, it may appear it won’t be long before the psychological barrier of RM1,000 psf will be breached. It wasn’t that long ago that KLCC condo prices were below RM1,000 psf.

And even as we ponder such a scenario, developers are already revising their valuation figures and yield. But will the earning capacity of property buyers in general, especially young wage-earners - increase in tandem?

Quote from The Star

Early Bird by Johnni Wong | May 17, 2012