New landmark for Kuching

An artist's impression of the Batu Lintang project that will change the skyline of Kuching.

KUCHING: Kuching skyline is set to change with the construction of a 36-storey office tower in the prime area of Batu Lintang.

The proposed tower will beat the city's tallest building, the 22-storey Wisma Bapa Malaysia in Petra Jaya which now houses the Chief Minister's office, several ministries and the state secretariat.

The tower is part of Sarawak's biggest mixed-development project jointly undertaken by Naim Holdings Bhd with Lembaga Amanah Kebajikan Masjid Negeri Sarawak (LAKMNS) and Tabung Baitulmal Sarawak (TBS), both state charitable trusts.

Naim has a 70% stake in the joint venture while LAKMNS and TBS each holds a 15% equity interest. A memorandum of understanding (MoU) on the project was signed recently.

Naim managing director Datuk Hasmi Hasnan said other components of the 13.6ha project were a 27-storey apartment, 18-storey condominium, a second office-tower block, hotel tower, a four-storey shopping mall, a 17,000-sq-ft showroom and multi-storey car parks.

'We will incorporate a water theme park, roof garden and plenty of green areas to make the development environment friendly and one that the local population can enjoy,'' he added.

The project site was previously occupied by government quarters. The land has been cleared and earth-filling works was completed recently.

Hasmi said the project would be carried out in phases over 20 years, with the apartments to be built first. The apartment block will have 115 units and the condominium 216 units.

“For each phase, we will do in-depth study on market demand and supply to take cognition of any changes in the economic climate to ensure the project's success,'' he said.

Hasmi said the development was expected to create 2,000 jobs and would provide business opportunities to retailers and wholesalers.

By The Star

Sime plans 15 property launches by June

KUALA LUMPUR: The Sime Darby group is preparing for at least 15 property launches for the six months ending June when the group's financial year comes to an end.

Sime Darby Property Bhd head of marketing development Henri Young said these 15 launches would cover different locations. Young was speaking to reporters at the launch of the Certificate of Real Estate Investment Finance programme in Malaysia, which will be sponsored by the Sime Darby group for the first time.

The eight-month course was first launched in 2007, and Malaysia is the fifth market to offer the programme.

The programme is promoted by the Asia Pacific Real Estate Association, which is partnering with the Malaysia Property Inc and Sime Darby Property, to offer the programme.

Young said the property market had been very buoyant the last year with units being sold the first two months after launch.

“Demand is very strong for landed units. We are now seeing a demand for service apartments and condominiums in the suburban areas. Buyers are looking for more value and they see room for capital appreciation in future years. The KLCC and Mont'Kiara areas have reached their peak and the rental market is struggling.”

In the next two months, the company will be launching The Glades in Putra Heights, Subang Jaya, a 53-acre development with bungalows, semi-detached, link and condominium units.

This will take place in May where as the Denai Alam in Shah Alam development will be offering Mulberry Grove linked houses while the Bandar Bukit Raja project will also offer linked houses.

In USJ Heights, it will offer zero-lot bungalows, where the compound is either small or limited.

In Melawati, the company launched super-linked terraces in Casa Rimba priced at RM1.5mil and retail and condominium units at its Quartza development in Desa Melawati.

By The Star

Sime to launch 15 property projects

SIME Darby, through Sime Darby Property Bhd, will be launching 15 projects across 10 townships in the first half of this year.

Its head of marketing development, Henri Young said, the townships include Putra Height and USJ Heights in Subang Jaya, Denai Alam (Shah Alam) and Bandar Bukit Raja (Klang).

"There is still strong demand for landed and residential properties in Malaysia," he said before the launch of the Certified Real Estate Investment Finance programme in Kuala Lumpur yesterday.

He highlighted that the company's previous projects in Denai Alam, Bandar Bukit Raja and the USJ Heights townships was sold out within two months.

By Bernama

Guocoland to launch Damansara City 2 by Q3

GUOCOLAND (Malaysia) Bhd hopes to launch its RM1.9 billion flagship development, known as Damansara City 2, in the third quarter of this year, an official said.

The property arm of the Hong Leong group will build the integrated development in Kuala Lumpur's Pusat Bandar Damansara, over a 2.2 million-sq-ft area.

It will comprise two office blocks, a 300-room hotel, a 260-unit serviced apartment block and a retail centre.

"We hope to launch it, hopefully, in the third quarter. The gross development value is not really firmed up yet, but it could be between RM2 billion to RM2.5 billion. We're selling only the serviced apartments," managing director Yeow Wai Siaw told Business Times yesterday.
He said work on the project could start immediately once all approvals were obtained. He is targeting for the project to be completed in about 30 to 36 months.

The project by Guocoland was first announced by Prime Minister Datuk Seri Najib Razak yesterday. It was one of 19 projects he unveiled under the government's Economic Transformation Programme.

Guocoland's share price gained 11 sen to RM1.35 in the stock market yesterday.

By Business Times

Bukit Kiara Properties to venture outside of its traditional market

An artist’s impression of the Persiaran Madge residential project by Bukit Kiara Properties.

BOUTIQUE developer Bukit Kiara Properties Sdn Bhd is looking to expand its brand of niche residential projects out of its traditional market of Mont'Kiara to other parts of the Klang Valley.


»We may consider setting up joint ventures with landowners« N.K. TONG

Group managing director N.K. Tong says the company is in an advanced stage of planning for two new projects in Persiaran Madge and Jalan Tun Razak in Kuala Lumpur. Subject to approvals, one of the projects is earmarked for launch in the third quarter of this year and the other in 2012.

The project in Persiaran Madge will comprise 19 spaciously-designed residences on a 5-storey block with built-up area of 3,500 to 6,500 sq ft. They will be priced from RM3.8mil or about RM3,500 per sq ft.

The Jalan Tun Razak project will have 160 fully-furnished service suites in a 20-storey block. The 750-sq-ft to 3,000-sq-ft units will be priced from RM1.2mil or RM1,500 per sq ft.

Tong says besides niche high-rise projects, Bukit Kiara Properties will also be looking for land of 50 to 100 acres to build landed residences in gated communities.

“We may consider setting up joint ventures with landowners for such developments,” he says in an interview with StarBizWeek.

Since its establishment in 2000, the ISO-certified company has finished two projects in Mont'Kiara Aman Kiara and Hijauan Kiara.

Completed in July 2004, Aman Kiara was the first development in the country to feature strata-titled bungalows and condovillas. Aman Kiara was handed over to purchasers nine months ahead of schedule.

Tong says the company's second project, Hijauan Kiara was completed in early 2008. It was the first condominium project in Mont'Kiara to feature a private lift lobby concept.

In fact, the unique name of Mont'Kiara, which is today synonymous with exclusive upmarket condominiums, was coined by Tong. The residential enclave turns out to be a big hit among the modern upper-echelon of the local community and the expatriates.

Tong works closely with his father, Datuk Alan Tong who is the group chairman of Bukit Kiara Properties. Alan, the founder of the Sunrise group, is dubbed the “Condominium King of Malaysia”.

The father-and-son team is focused on improving the living standards of homebuyers by providing a good form of lifestyle living with ample facilities and security and property management.

“We believe the relationship with our customers begin with the handing over of keys to their properties. Principally, our business is based on the core values of quality, innovation, caring and integrity. We do not rush through our projects and take about a year to launch a new phase or project,” Tong adds.

Bukit Kiara Properties also goes the extra mile to ensure each of its projects has the stamp of individuality and offers first-of-its-kind features.

In its latest development, the VERVE Suites series which comprises four condominium blocks in the western enclave of Mont'Kiara, the company takes great effort to offer fully-furnished designer suites with four different interior design themes in each tower.

The four towers Viva, Vibe, Vogue and Vox have a total gross development value (GDV) of RM592mil.

Each tower has its own unique sky lounge concept Vertigo, Hypercubes, Gardens of Concentrico and Versilica Sky Beach. The residents of VERVE Suites get to share the use of facilities of all four towers.

Viva and Vibe Towers have been fully sold while 95% of the 255 units in Vogue Tower has been taken up. The final tower, Vox, is 80% sold.

Tong says that by 2014, when the entire VERVE Suites development is completed, there will be a total of 100,000 sq ft of recreational facilities and four sky lounges. There will also be 87,000 sq ft of gross retail space for lease. Recreational amenities provided include swimming pools, BBQ areas, children's playground, reading pavilions, reflexology paths and landscaped podiums.

The VERVE Suites is also setting new industry benchmark in terms of quality. The Vibe Tower has recently emerged as one of the highest CONQUAS (Construction Quality Assessment System) scorers for fully-furnished serviced apartments in Malaysia.

The project obtained a score of 82.2, the highest ever for a high-rise project in the country. The overall CONQUAS score is derived from the sum of 10 categories internal floor, wall, ceiling, door, window, other fittings, roofing, external wall, external works, and mechanical and engineering works.

At the end of 2009, the Viva tower obtained a CONQUAS score of 79.4.

Tong says although CONQUAS assessment is not a requirement to be fulfilled by local developers, Bukit Kiara Properties adopts the stringent quality monitoring system introduced by the Building and Construction Authority of Singapore in all its projects to fulfil its commitment to build quality homes.

“We believe that it is important for our projects to undergo this international quality assessment. After all, quality workmanship of a project is important as it enhances the value of the properties,” he adds.

In line with the company's quality drive, a group of site supervisors, contractors and consultants will attend CONQUAS training each year to understand the quality aspects of property development. The company also implements the CONQUAS scheme to reward or penalise its contractors.

Each year, Bukit Kiara Properties pays special bonuses to its contractors who meet the high-quality CONQUAS standards required of its projects.

“This special bonus has been initiated since the company's inception in 2000 to promote quality workmanship,” Tong says.

By The Star

Bungalow project to launch this month with only 21 units left

Spacious: The front of a Type A bungalow.

A DOUBLE-storey bungalow project known as Ukay Seraya in Ukay Heights will be launched this month when the show houses are ready.

Comprising 30 units, the project has obtained the relevant approvals and sits on freehold flatland.

The lot sizes average about 9,200 sq ft and the project is located less than 10 minutes from KLCC.

This bungalow development with perimeter security fencing comes in four designs with built up area ranging from 5,813 sq ft to 7,336 sq ft.

Type A has the biggest built up area of 7,336 sq ft. It has a covered car porch that can accommodate five to seven cars. The master bedroom suite is 1,056 sq ft in size and demarcated into a sitting area, bed area, walk-in-wardrobe and a bathroom.

The layout of the master bedroom also provides a working area.

Type A has eight rooms, seven baths and a powder room, two living areas, a dining area, dry and wet kitchens, three store rooms and an external garden toilet.

Type B generally has bigger land area ranging from 9,300 sq ft to 12,215 sq ft per lot. It has seven rooms, seven baths, a powder room, three store rooms and a garden toilet.

The project is developed by Long Island Properties Sdn Bhd, a member of the Long Island Group (LIG). The Long Island Group is a developer who has forayed in Australia, China and Malaysia.

“In the Ukay Seraya project, we have installed concealed piping and wiring for all essential items including air-cond ducting, phone and TV cables to all rooms, security alarm cabling to all windows and external doors and CCTV cabling. This will eliminate the need to hack the walls later. As a standard feature, we also install external sensor detector lights and solar heater delivering hot and cold water to all baths and the kitchen,” said LIG head Cheah Min Loong.

Another unique feature is the pre-approved swimming pool for Type A and Type B.

This meant that the purchaser has the option to build a private swimming pool immediately without having to seek the authorities’ approval.

The large land sizes allow the construction of pools up to 60 ft long. The swimming pool is an optional item.

Out of the 30 units of bungalow in the Ukay Seraya development, 18 units are Type A, six units are Type B and three units each for Type C and D.

The pre-launch sale prices range from RM3,601,000 to RM4,798,000 depending on the type and land size.

“The pre-launch prices were formulated more than one year ago. The sales price will be increased by about 8% after launching to defray a portion of the escalating material and labour costs which are beyond our control,” said Cheah.

Nine units have been snapped up so far.

“We believe the other units will be taken up in a short time due to factors of address, easy access, safe flatland, freehold and functional designs, attractive prices if you compare apple to apple with other similar developments in the vicinity,” he said.

By The Star

Tambun Indah mulls Klang Valley project

PROPERTY developer Tambun Indah Land Bhd is looking to expand to the Klang Valley to tap into the growing demand for residential properties.



Tambun Indah, which has some RM60 million in cash reserves, has not decided on any particular land yet but is on the lookout for suitable landbank.

"We are eyeing for landbank in the Klang Valley and have viewed some land in Shah Alam and Kajang, but we have not finalised anything yet," said managing director Teh Kiak Seng in Kuala Lumpur.

The company also plans to invest some RM178 million to purchase two more parcles of land of about 1.62ha each in Penang next year.

Currently, Tambun Indah owns 86ha of land in Penang, with a gross development value (GDV) of about RM1 billion which should keep it busy for the next six years.

Last year, it also had some 10 per cent of the residential property market in Seberang Perai, namely through its Tambun Indah development project.

"Seberang Perai is one of the fastest growing districts in Penang due to the rise of working class population as a result of rapid industrialisation," he said at the company's prospectus launch yesterday.

Tambun Indah is seeking to raise RM22.4 milion from its initial public offering exercise, of which RM12.7 million will be allocated for working capital, RM7.1 million to repay bank borrowings and RM2.6 million for the listing exercise.

Of the 32 million new ordinary shares under the public issue, 11.05 million share will be allocated to the public at 70 sen a share.

Applications for Tambun Indah's shares close on January 6 2011 and subsequently, the company will be listed on the Main Market of Bursa Malaysia on January 18.

Established in 1994, Tambun Indah has completed eight projects, selling more than 2,800 units with a total GDV of more than RM800 million.

Its ongoing projects include Pearl Garden, a gated residential project located in Simpang Ampat which is set to be completed in 2016 and Juru Heights in Seberang Perai, a gated residential project that is expected to be completed early next year.

By Business Times