Tuesday, August 31, 2010

Mah Sing's Kinrara Residences draws more than 1,000 at preview

Mah Sing's Kinrara Residences draws more than 1,000 at preview

Crazy pricing ....

"The sales preview featured three types namely 2-storey link homes with a 2,488 sq ft built up priced indicatively at RM718,000 onwards, 2½ -storey link homes with a built-up of 3,038 sq ft priced indicatively at RM808,000 onwards and 3-storey superlink units with a 3,318 sq ft built-up with an indicative price of RM888,000 onwards."

The Sanderson - Rustic Luxury in Urban Setting

Source: Review by Estate 123

Established in 2002 the Newfields Group has ventured into the property development scene in 2004. They started with the Puchong Gateway, its phase 1 already complete since April 2009, and phase 2 in the process of completion. At the moment, another project of theirs would soon be launched in Sept 2010 - The Sanderson.

Located in Bukit Serdang, besides the Villa Pavillion and behind Technology Park Malaysia (TPM), the location of The Sanderson itself is accessible via the ungai Besi Expressway (BESRAYA), Lebuhraya Sistem Lingkaran Kajang (SILK Highway), KL-Seremban Highway and Bukit Jalil Highway. Almost every basic necessity (school, markets, bank, police station etc) are within driving distances. Well known landmarks nearby include the TPM, Villa Park, Green View Park and the Bukit Jalil Stadium. It is a short driving distance away from KL city central, as well as other well-known landmarks such as UPM and The Palace of Golden Horses; approximately within 20-30minutes drive.

The Sanderson comprises of low and high-rise condominiums on eight acres of prime, freehold land. Rustic luxury was the concept in mind with the design of the project, which emphasizes on the eco-friendly features of the facilities, as well as the greenery landscape around and within the whole project. There are 3 types of units available for choice - Villas, the largest and spacious units (1,400 – 1,600 sq. ft.); Suites, the smallest among the units (900 sq. ft.); Homes, units with sizes in between Villas and Suites (1400 sq. ft.). Prices start from RM245/ sq. ft. or RM220K minimum per unit. There are a total of 376 units available.

Reminiscence of the Serene Countryside
For a condominium in an urban area, The Sanderson aimed to provide a harmonious and pleasant environment, much like the peace and quiet of the country side, to its residents. The greenery, eco-friendly systems and convenient outdoor facilities allow residents to not only fully utilize the outdoors, but also soak in the calmness brought about by the presence of natural greenery. The 24-hours security feature is a bonus, along with the small conveniences - a gym, convenient store, yoga facility etc.

Another plus point for Sanderson is that it has been built to cater for both single professional as well as families, with its 3 different types of units suiting different lifestyles. The Villa and Home designs are excellent for families, even slightly larger ones, for its spaciousness and number of rooms; while single working residents will like the cozy design of the Suite units. The gated Linear Park is an added point - being safely within security surveillance while providing residents a place to rewind and relax by being close to nature.

Last but not least, prices, in the meantime, are quite affordable, especially for the intended target market of the project. Compared to the other surrounding condominiums, prices for The Sanderson is on a more reasonable level.

The Sanderson is not completely flawless, however. While it has access to major roadways, its access points are somewhat limited. There is only one direct access to the highway, which passed by the light industrial area nearby. The access leading to Bukit Serdang is also what some visitors have commented about being 'bottle-neck', and the surrounding area leading to the condominium, especially from the highway, may encounter heavy traffic during rush hours.

Living nearby a light industry area, no matter how good the security of the premises are, or how well-maintained its facilities are, may not appeal to some, who may worried about health problems or social and security problems.

The Sanderson is worth considering, with its reasonable pricing, convenient facilities and good security measures, nice greenery landscape and design, plus the freehold tenure and convenient access to major roadways.

Gated Guarded Project - Sierramas vs. Desa Park City vs. Setia Eco Park

Source: Estate 123

Introduction: Who likes to know the future trends of the Malaysian property market?

What property to invest into? Could it be link-houses, apartments, condominiums, semi-dees, bungalows or villas, all in strategic locations? Almost all types will give you good returns but which investment will stand out over the longer term period...

Strategic location is always the most important factor when investing in a property. However, what is the next best deciding factor. It can be anything & anybody guesses. However, let us give some thoughts, for example if we were thinking of buying our Ultimate DREAM Homes. Meaning, when money & time is no longer an obstacle to the decision making buying process, would you agree that tight security homes will become a more & more important deciding factor?

Recently, we notice that, in most property launches we visited, we started to realize that more & more developers are beginning to highlight the importance of security. Looks like the trend is Right on track....

Sierramas East & West enjoyed the first mover advantage as they are the First to market Gated & Guarded Community. Thereafter, Sam Ling Group launched Desa Park City and SP Setia launched Setia Eco Park & a few other projects follow through. However, over the last 5-10 years, the market responded poorly & demand was below expectations as local market was not ready & buyers are not YET willing to pay for the services. However, recently, there is some positive growth.

A semi-dee in Sierramas launched during 1998 priced at RM700K is marketed at RM1.2 million now. The estimated appreciation is 70% or RM50K per year. However, a semi-dee in TTDI which was sold at RM920k during 1998 is presently marketed at RM1.2 million only too. Similar properties in Bangsar are also not enjoying much appreciation now. Many affluent families are moving away from old residential areas to new gated guarded community.

Look like most developers are becoming more & more aware of this trend....we observe....

Residence in Sierramas has only great comments to boast about their gated & guarded homes. Freedom to go around. Peaceful environment. Door un-locked. Emergency panic button. Jogging track, Golf courses, Butterfly farms etc etc...

Obviously, Desa Park City & Setia Eco Park are emulating Sierramas‘s concept. And we expect more similar projects to be launched soon.

All in all, the key factor is always about Tight Security & Peaceful environment for Family members.

Condominium is also considered guarded & gated project. Many purchasers stayed on condominiums based on this sole factor. However, many have been disappointed with the security services & the poor management of these services always arises, whether it is manage by the developer or by the community.

Sierramas, Desa Park City & Setia‘s project includes the services & they are responsible to provide the entire services & are also given the rights to penalize non-paying residence.


We believe the trend is having a Home that provide a peaceful environment to your family. Obviously, it comes with a cost. The question is which one is more important – family or cost?

YTL’s Dale in Sungei Besi achieves 100% sales ahead of launch

A new benchmark has been established for homes in Sungei Besi, Kuala Lumpur with Dale, YTL Land and Development’s latest offering in Lake Fields, selling all of its 343 units ahead of the launch.

Priced between RM638,800 (US$203,200) and RM1,329,620 (US$423,243), Dale has not only set a new price standard for Sungei Besi, but has also demonstrated the area’s potential to be Kuala Lumpur’s next property hotspot, according to the developer.

A preview for YTL’s valued buyers and registrants at Starhill Gallery saw teeming crowds rushing to stake a claim in the project. A total of 100 per cent of units were sold before the end of the preview on the fourth day.

Commenting on the staggering results, Dato’ Yeoh Seok Kian, Executive Director, YTL Land & Development Berhad said: “We knew interest in Dale was high as more than 4,000 people signed up for the project through an earlier registration exercise held less than two months ago, but we certainly didn’t expect a sell-out success prior to the launch.”

He added: “This clearly shows that Lake Fields’ popularity as a modern, spacious residential development, coupled with Sungei Besi’s strategic location that is well connected with multiple highways and public transport, is in high demand.”

Dato’ Yeoh also said that the positive response was in appreciation of YTL Land’s track record of delivering truly branded homes with highly unique concepts. A testament of this was when an intermediate home from Meadows & Glades recently sold at a record RM665,000, translating to an appreciation of approximately 80 per cent from its launch price of RM360,000 in 2005.

The RM300 million Dale project is the second phase to be launched in Lake Fields and features 3-storey spacious homes enhanced with a more generous design and layout. The centrepiece of these 20’ X 80’ homes is the double volume living area with floor-to-ceiling windows, to add to its already spacious 2,600 sq ft built-up area. With a total of five bedrooms including a bedroom with an en-suite bathroom on the ground floor for the convenience of the elderly, Dale provides generous space for all in the family.

Monday, August 30, 2010

Like That Also Can ....



“I purchased the house in year 2008 for RM850,000. I spent about RM700,000 to rebuild the house; almost demolishing everything. Very little of the original house is left,”


Phuah plans to sell the Seputeh bungalow at RM2.5 million. “Everything goes. Lock, stock and barrel, minus me (laughs).”

Saturday, August 28, 2010

Zenth Residences @ Kelana Jaya

Saw a sign board at the roadside today when I am on the way home. Decided to follow the sign board and discover that SMI (developer) is actually launching their new project at Kelana Jaya - Zenth Residences.

SMI have been active developer in this area. They have built Kelana Puteri, Kelana Putera, Kelana Mahkota and Sterling PJ. Now they launching another new condominium right beside Kelana Mahkota.

There are few layouts available, from 930sf - 1100++ sf. Average price around RM370psf. For this launch, developer is giving RM10,000 discount. No interest bearing scheme or no furnishing provided as well.

I quite like this location, as myself is living here too. Is easy access to One Utama (north), or Sunway Pyramid (south). However please be reminded that this is leasehold land, and the remaining lease is about 70-80 years. Just another concern is SMI is not a very creative developer, but not a bad developer as well.

Friday, August 27, 2010

Azizi Ali: Property investment in the new decade - StarProperty.my

Azizi Ali: Property investment in the new decade - StarProperty.my

As a result of the new challenges, the investors using the current success formula of buying five properties at one go (by paying the minimum down payment and borrowing to the hilt) will be seriously hammered. They will experience much pain, to put it mildly. Some people will lose their properties, some will lose more than money and yes, some will become ex-millionaires.

Wednesday, August 25, 2010

Kinrara Residence - Landed House at Bandar Kinrara

From Mah Sing Website

Kinrara Residence is a mixed residential development consisting of mainly superlink homes, semi-detached homes and bungalows set in a secured and guarded enclave with tight security system for you and your family to sleep tight at night.

An exclusive clubhouse equipped with facilities such as a swimming pool, gymnasium and other communal facilities to encourage a healthier lifestyle among its residents.


Estimate Price:
1. 2-sty (2,400 sqf) - 700k
2. 2.5-sty (3,000 sqf) - 800k
3. 3-sty (3,300) sqf - 900k

Tuesday, August 17, 2010

S P Setia Bhd's Setia Alam pricing homes in on KL's

S P Setia Bhd's Setia Alam pricing homes in on KL's

• The 2,500-acre BSA (Setia Alam) township was launched in 2004. The price of linkhouses measuring 18x65 ft has appreciated from RM170k to RM280k while those measuring 20x70 have gone up from RM220k to RM380k. Shopoffices launched in 2004 at RM800k are now transacted at RM1.2m.

• The 50%-owned 791-acre Setia Eco Park, which is next to BSA, is 35% developed. Semi-Ds of 3,000 sq ft built-up are now transacting at RM1.3m compared to their 2006 launch price of RM720k. Slightly more than 1,000 homes have been developed. In a launch on 8 Aug, 74 semi-Ds priced from RM1.7m enjoyed a take-up rate of 60%. (Seem like High End property appreciate much faster than ...)

• BSA has been a hive of activity in recent weeks. On 31 Jul, 76 double-storey links priced at RM518k achieved 93% take-up while 64 semi-Ds (built-up from 3,005 sqft) priced at RM968k were fully sold. On Aug 7, 52 semi-Ds (built-up from 1,749 sqft) with price tags of RM450k were all taken up while 60 three-storey semi-Ds (built-up from 4,663 sq ft) priced at RM1.6m were 75% sold.

• The 250-acre Setia City will see the completion of the 700,000 sq ft Setia City Mall in 1Q2012. Anchor tenants are Golden Screen Cinemas and Parkson. Setia City will also include SP Setia’s new HQ, a medical centre, colleges, office buildings, condominiums and possibly a hotel. Two commercial lots next to Setia City Mall have been sold to Khind Holdings and Top Glove.

SP Setia is planning to build condos adjacent to Setia City Mall. It is looking at units measuring 800-1,000 sq ft, with an indicative price of RM500 psf (Crazy, this place also selling at RM500psf !). Also in the planning stages is a convention centre with a capacity of 150-200 tables.

The total GDV of the township is RM17bn – RM7bn BSA, RM3bn Setia Eco Park and RM7bn Setia City. Only RM3bn (RM2bn BSA and RM1bn Setia Eco Park) has been developed. It will take another 8-10 years to complete (Means still got room to grow??) and should remain the group’s main contributor for many more years.

Monday, August 16, 2010

Al-Hidayah offers wide office spaces in Olive 108@Ampang

Another new launch at Ampang, very close to Mah Sing M-Suites project. Below are some highlights of the news:

The RM920 million-project will comprise two phases.

For the first phase, there are three condominium blocks, two of which are 20 storeys high while the third will be 10 storeys.A total of 242 condominium units will be housed in this phase, with sizes ranging from 1,970 sq ft to 2,454 sq ft and would be priced at an average of RM750 psf.

Meanwhile, the second phase would feature a serviced apartment block and a Grade-A office tower, each 20 storeys high and standing on a three-storey podium.In this phase, 210 units of serviced apartments have been planned, with sizes ranging from 750 sq ft to 1,500 sq ft, and would be priced at an average of RM900 psf.

City&Country: Bluwater Estate offers resort-themed bungalows

City&Country: Bluwater Estate offers resort-themed bungalows

Bluwater Estate, a 247-acre green township development by Bluwater Development Bhd, is gradually taking shape in Seri Kembangan, Kuala Lumpur.

Other upcoming launches at Bluwater Estate include 108 units in the link-house precinct called Blu Constellations in 3Q this year. The semidee precinct, which has yet to be named, is scheduled to be launched early next year.

You may view the company official website here.

Sunway Velocity Open For Registration

V Residence is the residential segment of Sunway Velocity that offers modern living lifestyle to those who appreciate quality city living. With its modern design and lifestyle facilities, V Residence’s service apartment is your personal sanctuary after a hard day’s work. Connected by an environmental deck, residents can enjoy the convenience of F&B outlets and shopping. There is also a good transportation network as the LRT, buses and taxis are easily accessible within close proximity. Life will never be the same with V Residence in Sunway Velocity! 
  • 18 storeys with 264 units of service apartments  
  • Unique concept – cluster and floating bungalow style layout design  
  • Hip lifestyle – with a lifestyle shopping mall and retail precinct at your door step  
  • Ample space for everyone – spacious 2, 3 & 4 bedrooms apartment to choose from  
  • Eco friendly – designed to achieve the Singapore BCA Green Mark status  
  • Safe and secure environment – 24-hours security, CCTV & card access  

V Retail comprises a lifestyle shopping mall in Phase 2 and retails lots under Phase 1A as mentioned above. The lifestyle shopping mall will provide the best shopping, dining and entertainment offerings to meet the needs of every member of the family. Additionally, the retail lots enjoy a wide and visible frontage with a modern and contemporary design. It is also strategically located next to the lifestyle shopping mall to attract a larger crowd.
Overall, the concept of Sunway Velocity is designed to allow residents to experience a completely modern and contemporary lifestyle where everything is within reach in one destination. This is made possible as residential and commercial spaces have been designed to integrate harmoniously together.
  • Lifestyle Shopping Mall – Phase 2 
  • Owned and managed by Sunway City Berhad  
  • Gross Floor Area 1.3 million sq ft  
  • Conveniently linked to all phases via the environmental deck  
  • Retail Lots – Phase 1A 
  • Only 12 units  
  • Double frontage – facing Jalan Peel and environmental deck at level 1  
  • 7 units of retail lots below the service apartments on the environmental deck  
  • Modern and contemporary design  
  • Just steps away to the lifestyle shopping mall

V Office comprises office suites which have been designed to meet the needs of business professionals seeking a modern, conducive and comfortable working environment. The unique selling points include the extensive use of full-height glazing windows for greater visibility and good inter-connectivity with the other components via the environmental deck. With this prestigious address, V Office is an attractive choice for those seeking greater business and investment opportunities.
Overall, the concept of Sunway Velocity is designed to allow residents to experience a completely modern and contemporary lifestyle where everything is within reach in one destination. This is made possible as residential and commercial spaces have been designed to integrate harmoniously together.  
  • 112 units office suites  
  • Modern and contemporary design which allow ample natural lighting  
  • Convenient access to the lifestyle shopping mall  
  • Exclusive roof top duplex office design  
  • High speed broadband infra-ready  

Sunday, August 15, 2010

The Wharf - Update 1

Artist impression:


View Larger Map

Real concerns ahead? - StarProperty.my

Real concerns ahead? - StarProperty.my

THE surge in property prices has created a fresh avenue for investors wanting to make big bucks, but it is also creating a huge future problem that if left unchecked, can spell trouble for households, banks and the overall economy.

Housing loan repayment periods have gone from 30 years to up to 40 years, and home buyers can now take loans up to the age of 70, way past their retirement age.

Also, the innovative loan schemes that require smaller downpayments – 5% or even zero payment – has allowed buyers to make huge returns.

To address this, maybe Bank Negara, taking a cue from what China has done, will need to look at instituting more stringent requirements for housing loans.

One suggestion is to impose higher downpayments, based on percentages on a rising scale, for people buying second, third or more houses.

Wednesday, August 11, 2010

Latest launches of semidees in Setia Alam see strong sales

Latest launches of semidees in Setia Alam see strong sales

Been to the sales office of Setia Alam last Saturdays afternoon (SP Setia call it Welcome Center instead), saw a few properties for sales, but mostly sold out. After reading the news today, only know they have official launch that morning....what a co-incident. Anyhow all good units were snapped up by the time I was there.

Personally I see this area, Setia Alam, Setia Eco Park as very potential area. As the master plan is driven by a prominent property company - SP Setia. SP Setia not only build houses, they actually build a township.

You may notice two trends below
- More and more shops, schools and commercial area is open at this area
- More and more people including few of my friends have chosen this place as their home

Personally I have been to this place few times, since the inception of the idea few years ago. I still remember that time, a semi-d at Setia Eco Park is only selling at RM600k. And now? Worth million :)

For those who interested, you may try to queue for the next launch below:

"On the next property launch that can be expected at Bandar Setia Alam, Tan said 44 units of 2-storey linked semi-detached homes called Dipteris would be launched soon. The indicative pricing for the development is RM1 million."

Tuesday, August 10, 2010

Next Most Happenning Shopping Mall in Malaysia

Official Website: Click Here

IKEA at Cheras/Ampang ?

Swedish home furnishing company Ikea has set its sights on densely populated Cheras and Ampang in Kuala Lumpur for a new store.

View the details here...

Rehda optimistic of property market outlook

KUALA LUMPUR: The Real Estate and Housing Developers’ Association Malaysia (Rehda) is optimistic of the future prospects of the property market in Malaysia.

“For the first half of this year, the Rehda Property Industry survey for the first half 2010 showed that 62% of the developers were more optimistic of the market conditions compared with 43% for the second half of last year,” said Rehda president Datuk Michael KC Yam at a media briefing jointly held by Rehda and RAM Ratings Services Bhd yesterday.

The survey showed that 58% of the respondents had launched new projects in the first half of this year, a significant increase compared with 31% in the previous half, Yam said. ==> There are more choices for property investor

He said with the current favourable market conditions, the survey showed that 69% of the respondents would launch new products in the second half of this year. ==> Even more choices for second half of the year

“The majority of the developers also anticipated prices to rise in the next six months.
About 41% said their properties will increase in value by less than 10%, while another 40% of the developers expect their property prices to increase from 10% to 20%,” he said ......

Damansara One @ Damansara Perdana

A project by the young director of Crest Builder, located at Damasara Perdana. No details available yet, those interested may email him directly at ericyong77@ericyong77.com

By the way, please don't confuse this project with the other one launched by MK Land at Damansara Damai, which is call "One Damasara". Really don't understand why can't they choose other name .....

Perfect Livin '10 PWTC 12-15 Aug 2010


Sunday, August 8, 2010

Casa Tropicana - Update 1

Have you ever see yourself how does golf view look like when viewing from the high rise building?
I am quite impress when I see it myself. Someone from Casa Tropicana (golf view, high floor unit) kind enough to post this picture in the Internet.

How much do you think this golf view worth? Let's assume there are two units available for sales, one is "normal view", another one is this magnificent golf view. How much more ($) you willing to pay for this view?

3Residen @ Melawati

Heard about this project since few years ago. No chance to visit the actual site until recently.

This project is located at the foot of the hill, surrounded by greenery. However it is also quite close to MRR2 highway, near TAR college. Not sure what is the "track record" for this Melawati hill, have phobia about hillside property due to Bukit Antarabangsa case.....

This is a low density project, with near high end price. Sime Darby have increase the pricing for this project (>RM100,000) compare to the price when they first launch it at 2007.

Today, the project is still under construction. Sime Darby just completed the show unit last month and there are still few units available. For those interested, you may see the details review by some professional here.

M Suites @ Ampang - Update 1

Visited the actual site. The location is very strategic, close proximity to KLCC. However this condo will be sandwich between Great Eastern mall and Wisma Perkeso. In order to enjoy a better view, you would need to choose a right facing with right level.

View Larger Map

Where Are You ?

Saturday, August 7, 2010

Now I Know Why My Salary Increment "So High" This Year :)

Jobstreet.com 調查顯示





DIBS - Developer Interest Bearing Scheme

DIBS - Developer Interest Bearing Scheme

This is a very common strategy developer use to market their product nowadays. It is something good to the purchaser as well, as it provide the purchaser longer time to save money while the property still under construction.

The reason I brought up this topic is this facility is provided by the Developer. It is not something "standard" in property transaction, therefore we need to be aware of the "terms and condition" tied to this scheme.

Recently there is some discussion about this DIBS in the Internet forum:
1. Bangsar South - Some of the purchaser sell their property before the property is completed and handover (VP). The developer is charging back the purchaser the interest they beared during the construction period.
2. Empire Damansara - In one of the agreement, the developer stated that they entitle to charge the purchaser 1% of the selling price if the purchaser sell the property before the strata title is issued.

As mentioned above, the scheme is not part of the standard HDA contract, therefore you need to pay particular attention when sigining the agreement to avoid billshock when you sell your property.

Bolton To Unveil "The Wharf" Later This Month

Bolton To Unveil "The Wharf" Later This Month

SHAH ALAM, Aug 6 (Bernama) -- Property developer, Bolton Bhd, will unveil a new commercial development in Puchong, known as "The Wharf", later this month, said its Executive Director Chan Wing Kwong.

The development, with a gross development value of RM650 million, is a mixed offering of boutique shop offices, service apartments and a retail shopping mall. The Wharf would highlight green features that would capture the imagination of an ever-demanding market, he told reporters after the company's annual general meeting on Friday.

Other projects in the pipeline include a 33-storey development, known as "Sixceylon" at Bukit Ceylon, Kuala Lumpur, comprising 215 units of luxury condominiums with a gross development value of about RM180.0 million.

Meanwhile, "51 Gurney" is a unique offering comprises 71 units of super luxury condominium with a gross development value of about RM150.0 million.Asked on expansion plans, he said the company would continue building its strength in the Malaysian property market while consider venturing overseas in the next one to two years."We will look within the region," he added.

Three-day concert leaves residents sleepless in Bukit Ceylon - StarProperty.my

Three-day concert leaves residents sleepless in Bukit Ceylon - StarProperty.my

Imagine if you are the one live over there....

Investment advice from three property millionaires - StarProperty.my

Investment advice from three property millionaires - StarProperty.my

Some FAQ from property expert. Some highight below which I think quite important to pay attention to...

Question: Please share the best location for commercial properties.
Wong: For commercial, you must look at the amenities, population and human and car traffic. If at a location, you can’t find parking, the property appreciation will be huge. I go for locations with more supply than demand. And I also purchase the best lots, which are corner or adjoining units.

Question: Should I refinance my paid property?
Ng: One must love to borrow money. By borrowing, you are able to buy a few more properties. In a few years, the properties will appreciate and then when you refinance, you can buy more properties. Some people, they have a phobia of borrowing money from the bank. They are not able to sleep at night. If you are such a personality, then please do not refinance (laughs).

Question: Should I resign?
Wong: In year 2002 to 2004, I was still working. You should get good cashflow before resigning. Employment is good for getting loans. The job is the vehicle for you to get loans for property investment.

Question: I have a limited budget. Should I buy high-end or low cost?
Doshi: A few high-end or many low cost units. You can use the No-Money-Down strategy to buy many medium or low cost units. If it is a high-end unit, you can go for commercial. Personally, I would rather not buy a high-end condominium. If a unit is more than RM800,000, at that level the tenant pool is small as there’s an oversupply. In Bangkok, there’s more than 100,000 expatriates while Malaysia has about 30,000 to 40,000 expatriates.

Tuesday, August 3, 2010

Empire Subang / Damansara

MAMMOTH Empire Holdings Sdn Bhd expects to rake in RM350 million revenue a year from its newly opened Empire Shopping Gallery (ESG) in Subang Jaya, Selangor.

The five-storey lifestyle and contemporary mall features 180 retail stores, with anchor tenants like Tangs, Fitness First Platinum and Jaya Grocer.

ESG is part of the freehold Empire Subang commercial development, which includes the 10-storey, 210-unit Empire SoHo (small office/home office); 12-storey Empire Tower; and 13-storey, 199-room Empire Suites Hotel, a boutique hotel.The RM450 million development is located next to the KTM station.

Datuk Sean Ng, managing director of Mammoth Empire, said that 90 per cent of the mall has been leased at between RM10 and RM25 a sq ft."We expect to lease the balance 10 per cent within the next two to three months. We are selective on the tenant mix as we want to maintain a certain quality," Ng told reporters after the official mall opening yesterday.

The group is also developing Empire Damansara in Damansara Perdana, Petaling Jaya, which will feature residential units, SoHo, retail shops, offices and a hotel.

According to Cheah, Mammoth Empire is planning to launch an integrated development and a medium- to high-end gated residential project in Damansara Perdana by the year-end.The integrated development will comprise SoHo, an office and residential tower, and a third hotel for the group.Cheah said the master plan and value of the two projects are still being finalised."We believe there is a good growth story in Damansara Perdana for hotel, commercial and retail (developments).

Early this year, we launched Empire Damansara and it was fully sold in two months," he said.Cheah added that the group was talking to international operators to manage its hotels in Damansara Perdana.

Property Going To Burst Soon ?

Today a friend of mine told me that there is a news saying property in Malaysia will going burst in 3 months time !

I am quite shock to hear that. While driving home, I keep thinking how can this happen? No doubt, property in Malaysia is super hot now, but how can it burst in such a short time frame when the heat is just building up now. Even sub prime case in US also took few years to pile up ?

Unless, there is external factor, come from outside Malaysia - double recession. After seeing article from Alan Greenspan, now I understand why there is fear about property burst. If "double dip" does happen, then there might be price adjustment for Malaysia property, but I would not think it will burst like in US. Maybe it will just reverse back to the price level as in year 2009.

M Suites @ Ampang

Notice Mah Sing is so aggressive this year. Launching few high profile projects within a year: Icon Residence @ Sri Hartamas, Icon Residence @ Penang, Icon City @ Sg Way, Kinrara Residence and now M-Suites.

This project consist of Two Towers build on the 1.44 acres land, total about 475 units. Wondering how the developer squeeze so many units within such a small piece of land....

Location wise is quite strategic, located along Jalan Ampang, right behind Great Eastern Mall. Will try to visit the site to survey more about the surrounding, especially the view. Rumours said there might be new highway build along the main road in future.

Pricing wise quite steep, selling at about RM1000psf. The Elements @ Ampang is only selling at about RM700psf, but location is not as strategic as M Suites. Below is the indicative price from Mah Sing. But as what happened in the past, Mah Sing tend to push the price higher when there are many people registration for the project.

Selling Price

# Studio Suite (423 sq.ft. ~ 487 sq.ft.) - RM398,800

# 1 Bedroom (612 sq.ft. ~ 813 sq.ft.) - RM498,800
# 1+1 Bedrooms (938 sq.ft. ~ 1,029 sq.ft.) - RM598,000

# 2 Bedrooms (955 sq.ft. ~ 1123 sq.ft.) - RM688,800
# 3 Bedrooms (1,247 sq.ft. ~ 1,480 sq.ft.) - RM868,800

Below are some of the special features for this project:
  • Semi-furnished Units
  • Functional layout design with high ceiling height
  • Fully air-conditioning system
  • High specification with quality finishes
  • Inner courtyard recreational podium
  • Comprehensive security system
  • Grand drop off area / waiting lounge
  • Proposed concierge services
  • Self sustainable retail podium at ground floor
  • Modern architectural design
  • CONQUAS assessment

Monday, August 2, 2010

Redeveloping Kampung Kerinchi

THE rapid development of Bangsar South City in Kampung Kerinchi by UOA Group is now changing the landscape of the area that used to be a slum with squatters.
UOA Holdings Sdn Bhd general manager David Khor says the group is braving itself with the challenges and is optimistic of successfully developing the project within a few years. “We are trying to lift the image of Kampung Kerinchi and along the way, contribute back to the people here by providing new amenities, jobs and upgrading the access roads,” Khor tells StarBizWeek in an interview recently. The group, he says, is lucky in the sense that when it bought the land in 2005, the squatters had already been assisted by the Kuala Lumpur City Hall (DBKL) to be relocated to the nearby flats. Spanning 60 acres with gross development value of RM4.5bil, the development of Bangsar South is set to be fully completed in the next five to seven years. “The plan is to have an equal 50:50 ratio of commercial and residential component. About 20% of the development is already completed,” he says. The development is called Bangsar South City because it shares the same postcode with Bangsar even though the location is in Kampung Kerinchi, says Khor. Before starting the development, Khor admitted that when the project was fully completed, traffic problems might arise as more people come to live and work. “The result showed that the access roads are still sustainable to handle traffic. However, we do have plans to build new access roads when the time comes,” he says. UOA is building grade A offices, retail avenues, boutique condominiums, service suites and a clubhouse. Two blocks of condominium called Acacia and Begonia which are now completed and enjoying 80% sales and in two months, the group will launch the service suites. “The selling and rental rates for our residential and commercial properties are still competitive as compared to our neighbour, Bangsar, where the price for residential is around RM450 to RM500 per sq ft while the rental rate for our commercial side is around RM5.50 psf,” he says. In January, Bangsar South City was awarded the MSC Malaysia Cybercentre status by the Government.

Sunday, August 1, 2010

Treez - Bukit Jalil

The property is open for sales now. Visited the sales office, I would say I am very impress with the design of this condo, one of the most creative design I ever see. Located at Bukit Jalil, at small piece of land between Jalil Damai Apartment and AFC.

This is a low density project (due to the small land size), have about 170+ units. Every unit have different layout and design. Smallest size is 1400sf ++. It is selling at ~RM700k++ for smallest size unit, translated to about RM500 psf !!! Which is quite high for Bukit Jalil area as existing condo around this area (e.is selling g. Savanna) is only selling around RM300++ psf.

You may check out their official website here. The developer us relatively unknown, claimed have built the industrial project in Bukit Rimau.

Personally, I like the design, and the location. But the price is quite steep for Bukit Jalil address. I also quite concern about the developer track record, especially their ability to fulfill their promise, and deliver this project as per their design.

Casa Tropicana - The Market is Super Hot !

Dijaya launch the final block - block E of Casa Tropicana this Saturday. It is Sellingsat ~RM500 psf, means is about RM700,000 for 1400++ sf unit.

This condo is located at Tropicana, a prime area at Petaling Jaya vicinity. However it is leasehold land with 80+years lease remaining. I personally visited this condo few years ago. The outlook of the condo is not appealing to me, while the unit layout is one not impressive as well. However what shocking me most is balcony for some of the lower floor unit, is DEAD, it is directly facing the wall of other block ! What kind of developer / architect is smart enough to design and build this type of property?

Let me continue the new launch storey, did I tell you that it is 95% sold out within half day launch ? The market is so hot now, I still cannot figure out why the demand is so high for this condo? I perform some quick check in internet, doing some "benchmarking" on other condo at this area:

1. Existing unit at Casa Tropicana is selling at RM500k++ for 1500+- sf unit
2. Riana Green is selling at RM500k++ for 1500+- sf unit
3. Casa Indah is selling at RM500k ++ for 1400+- sf unit

I am trying to understand why Dijaya price their new block for additonal RM100k - RM200k premium compare to theirs others condo at surrounding area. Please share with me if you know the answer.

The Sanderson Update - 1

Visited Sanderson booth at KLCC Convention Centre. According to the sales person there, this property will be launch in Sep 2010.

The indicative price for the high rise condo is around RM250psf, while the low rise is around RM300psf. It come with 2 car parks for the high rise unit, and 3 car parks for the low rise unit.

Overall I am quite impress with the design and the master plan, especially the low rise unit have its own garden within the unit (for ground floor highest floor unit).

Decided to go to the site to see the location myself. This is my first time to Bukit Serdang, it actually took me quite some time to find it. In fact, I am a bit surprise when I reach there, as the entire Bukit Serdang area is quite big. There are many shops, landed houses, apartments there.

However I am quite disappointed with the access road, as well as the view on the way to the site. I am thinking does it worth to pay RM300psf for this location, with Villa Park (next to Sanderson) is selling at RM200psf currently.

Lastly, you need to have car to live at this area, as the connectivity to this area is very limited. It may be ok for own stay, but for investment purpose, you may need to think who is your target tenant...