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.

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

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.

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...