Wednesday, June 29, 2011

Klang Valley Housing Property Monitor (1Q2011)

City&Country: The Edge/CB Richard Ellis Klang Valley Housing Property Monitor (1Q2011)

“What is really moving are the smaller serviced apartments and condos of between RM450 and RM600 psf, which are selling very well. The market has evolved, with more activity in and excitement over smaller units in Petaling Jaya and the Kuala Lumpur suburbs than the KLCC area.

He highlights some potential hot spots for investors — Bukit Ceylon near KLCC; Setapak; Bandar Menjalara in Kepong; and Kota Damansara.

The 1-storey terraced houses sampled in the monitor show y-o-y price growth across the board, with those in Taman Tun Dr Ismail’s (TTDI) Jalan Burhanuddin Helmi showing a 33.33% rise. The average price for this type of house in the area is RM600,000 now compared with RM450,000 a year ago
The next highest y-o-y price rise of 28% for 1-storey terraced homes was recorded in Bandar Sri Damansara’s SD2, SD3 and SD4 areas. The average price in 1Q was RM320,000 compared with RM250,000 last year.

For 2-storey terraced houses, prices in Bandar Sri Damansara’s SD10 area surged 41.03% from a year ago — the highest growth recorded among the sampled properties.

The values of 2-storey terraced houses in Bandar Utama’s BU12 also recorded a steep rise of 33.93% from a year ago. The average price of the property type in this area was RM750,000 compared with RM560,000 the previous year.


Several areas maintained their values in 1Q, such as TTDI’s Jalan Athinahapan and Jalan Datuk Sulaiman; Bandar Utama’s BU1; Bangsar Baru; USJ4 and 6; and Puchong Jaya. Bandar Sri Damansara’s SD7 showed 10% average growth to RM550,000 from RM500,000 the previous quarter.

The high-rises that did not show any growth are TTDI’s The Residence and The Plaza; Mont’Kiara’s Lanai Kiara; USJ’s Goodyear Court; Bangsar’s Cascadium; Sri Hartamas’ Plaza Damas (Mayfair); and KLCC’s Stonor Park.

Tuesday, June 28, 2011

Da:Mén @ USJ

PETALING JAYA: A new mixed development with a gross development value of RM1 billion is coming up in the USJ area in Subang Jaya, Selangor. The project by Equine Capital Bhd will consist of serviced apartments, shop offices and a mall.

The project, known as da:mén (meaning "the Gateway" in Mandarin), is located at the intersection fronting Jalan Kewajipan and Jalan Subang Permai spanning approximately 8.98ha of freehold land.

The serviced apartments comprise two 23-storey towers complete with a dedicated facilities deck including infinity-edged pools. There are 480 units offering five layout choices with built-up areas ranging from 723 sq ft to 1,100 sq ft. Prices are from RM350,000 onwards.

Equine's RM1b da:mén development

Sunday, June 26, 2011

Pacific Place Site Visit, Citta Mall

After 1 years since I bought this property, I yet to receive any progressing billing from the developer, since signed the S&P end last year. This doesn't look right. Decided to visit the site to check out the progress of this project. Below are some photo capture today.

Good news is, there are people working on the site, means the project is not abandon yet :)
Bad news is, the progress is very slow, look like the developer still at land clearing stage, look like the project may delay..

When I drove around this area, notice that The Citta Mall already open for business. So far only few shops open for business. I do hope the Citta Mall management really able to turn this shopping mall into "US Outlets" concept as they claimed.

Saturday, June 25, 2011

24/7 Wall St. has created a new list of brands that will disappear, which includes 
  1. Sears
  2. Sony Pictures
  3. American Apparel
  4. Nokia
  5. Saab
  6. A&W All-American Foods Restaurants
  7. Soap Opera Digest
  8. Sony Ericsson
  9. MySpace
  10. Kellogg's Corn Pops

You Want A FREE Home?

Come across this interesting programme, organize by Sime Darby. Something like Big Brother show, you can use your own creativity and renovation experience to win a free home for your self ! So tempted to join, but need to apply 4 weeks leave, and give up ALL contacts with outside world ... :(

Check it out here.

Friday, June 24, 2011

YTL Lakefields

The Wharf @ Taman Tasik Prima Puchong

A friend of my share the email he received from Bolton today:

The Wharf is Taman Tasik Prima’s 3-in-1 lakefront commercial development situated on a prime 15-acre parcel and features boutique showroom offices known as BizWalk, serviced apartments known as The Wharf Residence and a state-of-the-art retail mall. It offers an exciting mix of residential, business, retail and leisure centre nestled around a majestic 200-acre lake. Upon completion, The Wharf is envisioned to be a vibrant one-stop “Neighbourhood Lifestyle Destination” in Puchong.

The Wharf development was unveiled in August 2010 and the first component released for sale was BizWalk, 32 blocks of 3-storey boutique showroom stratified offices, with prices ranging from RM2.2 million to RM3.8 million which was completely sold out.

The Wharf Residence (previously known as The Avenue) which comprises of 1,002 units housed within three blocks of 33-storey towers is now open for registration. We anticipate launching the sales of these units in the second quarter of this year. The units are 99-year leasehold upon handover. Sizes range between 818 sq ft and 1,147 sq ft while prices of the units start from RM280,000 indicatively. We have a show unit available for your viewing at our Bolton Studio at Taman Tasik Prima Puchong.

Wednesday, June 22, 2011

The Impact of Google Guitar

Saw this interesting news. As you know, Google will "re-design" it main page logo on every special occasion. On 9 June, Google created an interactive guitar. This guitar logo attracted millions of people playing with its, and there is report saying cause this creativity cause USD 268 million lost in productivity .

Go and try yourself here, is fun :)

Tuesday, June 21, 2011

Transforming PJ - RM10bil for redevelopment -

Remember those fancy photos posted last time? Here ==>

The mayor hints today it will be coming soon :)

The urban regeneration programme in Petaling Jaya, which will see redevelopment projects in prime areas over the next five years, is estimated to cost RM10bil, said Petaling Jaya city mayor Datuk Mohamad Roslan Sakiman.

“This is still in the pipeline. It will see new projects comprising hotels, condominiums and other commercial developments,” Roslan said after attending Petaling Jaya’s fifth City Day celebration at Petaling Jaya Stadium.

Roslan was referring to the projects that were being planned by the Selangor Development Corporation (PKNS), which was said to be involved in projects such as PJ Sentral Garden City and PJ Elevated City.

RM10bil for redevelopment -

Another Milestone Achieved !

Another good news to Bangsar South residents. First, the relocation of hawker stalls at the entrance of Federal Highway. Progressively relocation of stalls at the end road towards the NPE Highway.

Kampung Kerinchi is transforming :)

It Works !

China Home Prices Cool as Government Steps Up Bid to Avoid Property Bubble

Good to know that this actually work, in China. For Malaysia, the medicine haven't "take effect" yet even though the government have given few doses of injection, in fact the price is keep escalating still...

Thursday, June 16, 2011

Seringin Residences Update

Just received SMS from the developer:

Seringin Residences is now open for sale to our privileged registrants at our Sales Gallery ....Please call 03-79806688 ....

Comment as below:
- Have two towers, A and B
- Each floor 12 units
- Price for tower B start from RM650k onwards, for 1500sf++.
- Tower A mostly sold out especially small units, left big units that are more than 2000sf, arounf 2100sf - 2600sf
- Tower A price cheaper, average psf rm410, Tower B price much higher, but feature wise there is no different between Tower A and B
- No freebies, no discount, no furnishe. Only 50% of S&P legal fees and loan document

This developer is seem like super confident on this project. Selling at steep price without any "attractive package". Building facade super normal, nothing fancy. Layout not practical. Just imagine for 2600sf large unit only have 3 bedrooms. For 1500sf and 2100sf, you need to pass through maid/store room in order to go to common toilet....

Best part is they do not provide any parking spaces to customer, even there are plenty of empty parking spaces around the sales gallery. They reserve it for See Hoy Chan boss and all customer need to park at road side :)

So Ambitious - New RM1.5bil project to give trendy look to Puchong

PUCHONG: Millennium Land Sdn Bhd will embark on a RM1.5bil mixed-development project, M Square, which it is optimistic will become the new commercial centre for Puchong and turn it into a trendy township.

Located on 10.12ha, M Square comprises a 380,000 sq ft shopping mall located in the podium block below the 18-storey 255-room Hilton Garden Inn and a 2.1 million sq ft street mall comprising of 13 six-storey blocks of retail and office units.

The development will start by the third quarter this year and is targeted for completion by 2014.

Wednesday, June 15, 2011

Seringin Residences @ Happy Garden

After 6 months of waiting, finally the luxury condo by See Hoy Chan is soon open to Seringin Residences, location right next to G Residence Condo, beside a proposed Chinese School.

Official Web Site:

Previous Posting:

Some site visit photo:

Housing agent get six years and six strokes for cheating

JOHOR BARU: A 32-year-old man was sentenced to six years in jail and six strokes of the rotan for six cheating cases.

Mohamed Rizal Mohmad Daud, who claimed to be a housing agent, was charged in the magistrate’s court with six counts of cheating that took place last year.

In the first charge, he received RM400 as a deposit from R. Thanes-varan, 31, after claiming that he could help him rent a house at around 4pm at Taman Larkin Idaman on Nov 25.

On the second charge, he received RM2,000 from the same man as a deposit to buy a house at the same location at around 4pm on Nov 25.

In the third charge, Mohamed Rizal took RM900 and deceived Noah Jeevan Rabindranath, 41, into believing that he could help the victim rent a house in Larkin Idaman at around 2.30pm on Oct 10.

The fourth offence occurred at around 11.30am at Taman Larkin Idaman where the accused convinced Harun Rashid Idris, 22, to pay him RM300, promising to help the victim rent a house on Nov 9.

In the fifth charge, the accused took RM1,200 from Hazman Hamid and promised to rent a house for him in Larkin Idaman on Nov 27.

In the sixth offence, he received RM2,000 from Yang Mey Yong, 44, where the accused promised to help the victim purchase a house at around 12pm on Dec 3.

He pleaded guilty to all the six charges and magistrate Mazana Sinin sentenced him to one-year imprisonment and one stroke of the cane for each charge.

22 Years Old U.K. Heiress Buys America's Most Expensive Mansion

The 57,000-square foot Los Angeles mansion built by the late TV producer Aaron Spelling is slated for sale to a 22-year-old heiress to a Formula One racing fortune. The home on five acres of property in Holmby Hills has a bowling alley, beauty salon, several gift-wrapping rooms and parking for 100 cars.

The buyer, Petra Ecclestone, will be splitting her time between London and Los Angeles after her planned August wedding to entrepreneur James Stunt, according to a spokeswoman. Ms. Ecclestone's father is the British billionaire and Formula One racing boss Bernie Ecclestone.


Incident at KL Sentral Today

A crane at Nu Sentral collapsed at KL Sentral Main Building...

Tuesday, June 14, 2011

Property 101 - Super Long Documents

Usually when you purchase or sell an property, you need to sign a lot of paper, for example:
  • Booking Form
  • Sales & Purchase Agreement
  • Deed of Assignment
  • Power of Attorney
  • Bank Loan Offer Letter,
  • Loan Document
  • Tenancy Agreement
and etc....

We are not legal expert, and the document is so long, 90% of us will not bother reading it and just trust the expert. But what if the expert made mistake in the document and you signed it also? Then, I only can say TOO BAD.

Therefore as I emphasize previously, you need to have trusted people within your circle that you can rely on them when come to this kind of document, Lawyer, Agent, Loan Officer and etc.

However, I still have a habit to check some key terms myself when come to document. For example, Name, IC, Loan Amount, Loan Interest Rate, Penalty,  Lock In Period and etc. Personally, I have experience below myself
  • Lower penalty rate than what is agreed in Bank Loan Document (which is good news to me)
  • Longer lock in period than what is agreed in Bank Loan Document, which extended from 3 years to 5 years
  • Tenancy agreement with wrong bank account number
  • Exclusive Agent Form which I never agree to from Property Agent
  • Booking Form that stated higher commission rate than what I thought it would be
Lesson learnt, it is good to cross check some of the key terms yourself, else, you may end up in situation you never thought of :)

Monday, June 13, 2011

How to Kick Them Out

Found an interesting article, you may need you sooner or later when you start the life as landlord :)

Tenants that rent your house do not pay the rental and refuse to move out from the property? Bought an auction property and found that someone occupy the property illegally ? All this kind of scenario are commonly happened in Malaysia.

In Malaysia, the legal way to evict the tenants or illegal occupiers from your house is to apply for an eviction court order, but it is time-consuming and costly to get an eviction court order. Hence, it is depend on the cost of your property and whether you think it is worth to do that or not.

1. First, DO NOT TERMINATE the water supply or electricity supply for that property. This is the most common method that people used to evict the tenant, but it is illegal in Malaysia.

2. Request your lawyer ( normally is your S&P lawyer or tenancy agreement lawyer ) to send an registered post to that property. The letter content should tell the tenant to move out from within one calender month. For examples, if the letter is going to post out on any days on April, you must give the tenant one calender month to move out which is 31th of May.

3. Get a copy for that letter from your lawyer and get the confirmation from lawyer whether the registered post are delivered successfully or return unclaim ( some tenants like to pretend nobody home ).

4. After one calender month, if you still find that the tenant still didn't move out from the property, then you can plan for a 'break in' activities

To minimize the cost and evict the tenant from your property, there is another informal way, which is still a legal way with less cost. The following is the guide to help you guys to evict the tenants or illegal occupiers out from your property and gain back your control. It is a legal way, with certain of risk but it is not as formal as applying court order.

The following is the preparation for the 'break in' activities.

1. Planned for a 'break in' date and before 'break in', go to make a police report on the nearby police station. Bring the lawyer letter that you sent to the tenant and the confirmation slip that can prove the tenant received the letter or not. If the letter returned unclaim, you can tell the police, you posted a notice to ask the tenant to evict, nobody claimed that letter. Hence, you assume there is no people staying there and you want to break in that house now. If the letter was delivered successfully, then when you make police report, informed the police that you expect the tenant should have moved out. Ask the police whether they can accompany you for the 'break in'. If cannot, get the telephone number for the police station that you made the report.

2. Get a locksmith with you and a independent witness. Independent witness mean someone that does not have close relationship with you. It cannot be relative or friend. If your property is a condominium or gated townhouse, you can request the staff in the maintenance office to accompany you for the 'break in'. They can be your independent witness.

3. Bring a good camera with you. When you enter the property, use the camera to take photo on every corner of that house. This is to prevent the tenant or the illegal occupier claimed or sued you that you took away his asset.

4. Bring a pad lock with you to lock the house after break in.

The following is the matter to take note during 'break in' activities.

1. Go to that property and try to knock the door. If the tenant open the door, then you request him/her to move out politely. Informed him that you had made an police report. If he refuse to move out, call the police. If no one open the door and you feel there is someone inside, then call the police and request them to come before you start to 'break in'. If you confirm no one is inside the house, you can start to break in.

2. After break in, take photo as much as you can. Try not to touch any thing in that house. Put a notice on the front of the property, which can be seen easily. Tell the tenant if he/she want to take back his/her asset in the house, please contact you within 1 or 2 weeks time. Besides, put a photocopy of your police report together with the notice too to indicate that you had made the police report.

3. Change the main door lock and lock it with your new pad lock.

4. After that wait for 1 or 2 weeks time, to see the tenant contacted you or not. If not, then dispose all the thing in that house and you can do anything whatever you want with that property.

The above guidelines is just act as a guide for you to evict your tenant or illegal occupier without court order. Different case might have to act differently. Hence, the best is to consult your lawyer. However, I had managed to gain back control on my property by using the steps above. If you want to follow the guide above, use it at your OWN RISK. Good luck to you.

Residents infuriated by City Hall’s inconsiderate move -Bukit OUG

Residents infuriated by City Hall’s inconsiderate move -

Bukit OUG residents in Kuala Lumpur are concerned over the safety of their property after parcels of land in the neighbourhood were cleared, leaving a hillslope exposed.

The DBKL also recently put up another signboard to inform the public that an application has been received to increase the density of the middle plot of land from 60 people per acre to 500 and to build four blocks of 31 to 33-storey flats with six levels of car park.

He said the bridge along Jalan 3/155 was also not very stable and had previously sunk at the ends due to heavy traffic.

Kok said she has been told that the bridge was a temporary one and nothing has been done to upgrade the bridge or widen it.

“I used to stay around here and it would take me at least 15 minutes just to get out of the area onto Jalan Awan Besar and the situation is worse now.

“What would happen to the traffic with all this additional developments?” said Kok.

On every floor, One unit; For each unit, One pool, One lush garden

Saw this "special" condo when I holiday at Penang, attracted by their tag line "Privacy...One Floor One Unit" !


For those targetting Melawati area, new launch by Sime Darby at Q3 this year...

Below is info provided by Sime Darby:

Thank you for your enquiry regarding Quarza @ Desa Melawati.

There are comprises of a few development as below :-

1. Commercial Retail Lot + 3 Blocks of Serviced Apartments
2. Low Rise Condominiums
3. Boutique Mall
4. Low Rise Apartments
5. Bungalows

Project No 1 mentioned above expected launching in Sept - October 2011 and the others still waiting further instruction from mgmt.

Quarza flr plan and pricing still havent confirmed yet. Expected pricing 300k onwards.

Currently, only scale model of this Quarza is displaying in our Melawati Office.

Wednesday, June 8, 2011

Just Watch, Stop Talking

Bukit Jalil Drama: Ho Hup wins back its 60-acre land

Ho Hup wins back its 60-acre land

KUALA LUMPUR: Ho Hup Construction Co Bhd has won back a piece of prime land in Bukit Jalil after the Kuala Lumpur High Court declared null and void a joint development agreement (JDA) that was long deemed unfavourable by the company's existing shareholders.

Ho Hup's previous board of directors, led by former deputy chairman Datuk Vincent Lye Ek Seang, had inked a JDA between the PN17 company's 70% subsidiary, Bukit Jalil Development Sdn Bhd (BJD), and a wholly-owned entity of Malton Bhd, Pioneer Haven Sdn Bhd, for the development of the 60-acre freehold land.

Meanwhile, the company has received conditional approval from DBKL for plans for the 60-acre land, according to Wong.

The masterplan involves a mixed commercial and residential scheme with a potential GDV of RM4.2 billion, to be rolled out in six phases over 10 years.

"The plan involves 8 million square feet of net saleable area with 170 office units in five- and eight-storey buildings, six blocks of service apartments, a commercial strip of shops and a hotel," said Wong.

UOA Development buys Sri Petaling land for RM50m

UOA Development buys Sri Petaling land for RM50m

KUALA LUMPUR: UOA Development Bhd, which listed on the Main Market of Bursa Malaysia on Wednesday, June 8, is acquiring two parcels of freehold land in Sri Petaling for RM50 million for a proposed high-rise residential development.

UOA Development is proposing to develop the land into high- rise residential and has plans to commence in the fourth quarter of 2011

UOA Development will be the fourth largest property company listed on Bursa Malaysia after UEM Land, S P Setia Bhd and IJM Land with a market capitalisation of an estimated RM3.1 billion based on its final retail price of RM2.52 per share.

About 65% of the company's new project are located in Bangsar South, namely The Village, The Horizon Phase I and The Park Residences Phase I.

Tuesday, June 7, 2011

Glomac to acquire land in Pekan Kayu Ara, Selangor

Glomac to acquire land in Pekan Kayu Ara, Selangor

KUALA LUMPUR: Glomac Bhd’s wholly-owned subsidiaries Glomac Kristal Sdn Bhd and FDM Development Sdn Bhd have entered into two sale and purchase agreements (SPAs) for the acquisition of approximately 7.62 acres of leasehold land in Pekan Kayu Ara, Daerah Petaling, Selangor for RM31,159,875.

The land is adjacent to mature residential and commercial developments like Damansara Utama, Damansara Jaya and Bandar Utama. In its announcement on Bursa, Glomac said this proposed acquisition is in line with the Group’s development strategy of acquiring land in good locations suitable for niche developments with a fast turnaround time.

Robbery Video Clip

This lady damn brave, parang so long also dare to challenge and chase the thief.

How Do You Know Which Property Is Good To Buy ?

There is an article today in The Star about tips of buying property

I have been asking this question myself when I start investing in property, who can advice me whether I a particular property is good buy or not? I am not good in negotiation, who can help to me to negotiate for better price?

In Malaysia, most of the people will ask their friends and family opinion for buying property. But are they asking the right person? Property investing is a "knowledge" by itself. Most of the people only have experience buying one or two properties in their life, these limited experience is equal to fresh graduate experience in working life.

How about Property Agent ? Yes, no doubt property agent is the real expert in this area. They buy and sell property everyday. However please do not forget property agent survive based on commission. Who pay them the commission then? The Seller. So how can you ensure the advice from the agent is not bias towards Seller?

With the advance in technology, people start turn to Internet for advice. They go to property forum, blog, newspaper and etc. Some post their questions there and hope some guru will guide them from there.

In nutshell, most of the people try to learn to be property investor themselves. They pay the price to learn the the property investment skill themselves. They buy, they sell, they may mistake, they learn, they profit and on going...

Why there isn't any property consultant in the market, that can advice you which property to buy, when to sell, how much to pay, which loan to take and etc. Why we need to waste the time and learn it, and worse we may make wrong decision during the learning?


Millionaire at Denai Alam

Recently met an old friends online, he told me he is millionaire on paper now, because his Denai Alam property have reaching RM1 million mark :)

He bought this corner unit double storey 2-3 years ago, and it is still under construction today, target to VP Aug 2011. However he have receiving call from agents to let go his unit, there is offer of RM950k for his corner unit house. He bought it at RM500k++ few years back.

Personally I visited Denai Alam about 2-3 years ago. At that time, I feel the location is quite far as I go using Guthrie Highway. However the sales agent say government might open up the direct link from Denai Alam to Kota Damansara, which personally I think this "highway" is quite important to solve the "location" factor of Denai Alam.

However look at market nowadays, seem like location is no longer "big issue" for purchaser. Maybe is due to good branding by the developer. Look at Sime Darby, they are capable to turn far far away land like Bukit Jelutong, Denai Alam, USJ Height, Putra Height into million dollar residential area. All their recent launch is selling at million ringgit and above, and people still rush to buy it :)

Property That Target Student Market

Senza @ Bandar Sunway

Nadayu Sunway


Communication unit to address residents’ concerns -

SP Setia Sdn Bhd has been picked to redevelop the ageing Seri Johor, Seri Pulau Pinang and Seri Melaka low-cost apartments and the Taman Ikan Emas low-cost homes in Bandar Tun Razak, Cheras.

The Sustainable People’s Housing for Urban Renewal project is part of the government’s urban renewal programme to inject life into decaying and ageing townwhips and slum areas in the Federal Capital.

The project undertaken by the Federal Territories and Urban Wellbeing Ministry and City Hall will see many old low-cost housing projects in the city being redeveloped to provide the urban poor better living conditions.

The renewal programme includes demolishing old low-cost flats and houses and rebuilding units with more rooms and living space that are more conducive and with better facilities, said Nong Chik.
“Other areas proposed for this redevelopment projects are San Peng in Pudu, Kg Kerinchi and Sri Pahang in Pantai Dalam and other areas in the city with flats over 30 years old. “This project is initiated to provide KL-ites with better living conditions and enhance their quality of life,’’ Nong Chik said.

Monday, June 6, 2011

Similar Problem - Residents against proposal to build another highrise condo

Residents against proposal to build another highrise condo

Residents of the Contessa Condominium in Kuala Lumpur are concerned about the impact a proposed hillslope project — on the same lot — will have on the area.

Work was going on daily — sometimes even on Sundays.

“I live in direct view of the lot and I could not even open my windows when all these works were taking place because of the dust and noise,” Willie said.

When I saw this news, this is exactly what happened at Park Residence Condo today too. Currently there are heavy construction work carry out at Camelia side, which is facing the Park Residence Condo directly (especially Block B). This have cause "big issues" to the resident over there as the noise pollution level is totally unbearable and exceeding "acceptable level" according to study conducted on site. Worse is the resident do not even dare to open their window or balcony door, because it is way too dusty.

No doubt the view for KL facing unit is better, however the resident have to bear with the unhealthy noise and dust for at least few years. Imagine how can your kids stand it as they are at home most of the time. Therefore it is very important to ensure the land in front of your future property is not vacant or plan for any development....

However this also means that there is opportunity for those "good negotiator" to hunt for those impacted units now due to this construction issues... :)

Sunday, June 5, 2011

Setia City Mall 75% taken up a year before opening

Another City Born. This place going to be on par or surpass Kota Damansara, Puchong anytime soon. In fact, I think it slowly replacing Kota Kemuning as sought after place to live at Shah Alam area...

Setia City Mall 75% taken up a year before opening

KUALA LUMPUR: The Setia City Mall in S P Setia Bhd's Setia Alam township has signed on tenants for over 75% of its net lettable area (NLA) to date. The mall has over 740,000 sq ft NLA. About 160 tenants out of a possible 250 have already signed on a year before the mall's opening.

"Setia City Mall and the central park it is connected to is a key step in achieving our vision for Setia Alam, and when the doors open next year, Setia City Mall will become a vibrant hub of activity for the residents of both Setia Alam and Setia Eco Park," said S P Setia executive vice-president Khor Chap Jen during a breakfast meeting with its tenants on Thursday.

The four-storey mall's anchor tenants include Parkson, Golden Screen Cinemas, Urbanfresh supermarket, Harvey Norman, Fitness First, Courts and Wangsa Bowl.

Transformation at Bandar Tun Razak, Cheras

SP Setia to redevelop Cheras housing area at RM2.8b

PUTRAJAYA (June 3, 2011): Property developer SP Setia Bhd will redevelop the Sri Johor, Sri Pulau Pinang and Sri Melaka low-cost apartments and the Taman Ikan Emas low-cost homes in Bandar Tun Razak, Cheras here at a total development value of RM2.8 billion.

SP Setia's deputy president and chief operating officer Datuk Voon Tin Yow said the first phase of the project would take off next month.

He said this at a press conference after a meeting today with Federal Territories and Urban Wellbeing Minister Datuk Raja Nong Chik Raja Zainal Abidin on the proposal to rebuild the housing area.

Nong Chik said the first phase of the project will involve the development of affordable, quality homes totalling 1,255 units. They would be completed in three years.

He said SP Setia would also undertake an apartment housing project in the area for young executives with each unit to cost not more than RM300,000 and with a built-up area of at least 800 ft.

The decision to build quality, affordable homes in the area was made in view of the dire condition of the housing area. The area will be modernised with well built homes as well as public facilities and improved landscaping.
Under the second phase, Nong Chik said the housing developer will also develop a commercial and residential centre which will take between 14 and 15 years in the 53.4-hectare area.

On the number of housing units to be built, Voon said this has not been decided yet. — Bernama

Friday, June 3, 2011

How Does Electricity Bill Hike Impact You?

Recently TNB announce that electricity bill will be increase by 7% this year. How big is this price hike impact to you personally?

Electricity bill in Malaysia is calculated using tier system; the more your electricity consumption, the higher the per unit price. Therefore, this round of price hike will not only impact your monthly utility bill expenses, it will also impact your condominium/apartment.

Electricity bill for a typical condominium in Malaysia will cause around RM15,000 - RM30,000++, depends on the size of the property. With 7% increase of electricity tariff for a RM30,000 monthly bill, it is equal to additional RM 2100 per month, which translated to extra RM25,200 expenses per year !

If this particular condominium account is already in deficit state, this will cause further burden to the management company, which eventually will impact the "quality of maintenance" for this property....

Above sample calculation is real fact that happened to one of my property, this information is share by the JMB to all the owner......

Thursday, June 2, 2011

Back to Nature

Armanee Damai @ Damasara Damai ?

Another death accident at condo....