Tuesday, 28 August 2012

Upcoming Launch TTDI Ascencia Taman Tun

The upcoming launch TTDI Ascencia is tentatively fixed on September 2012. TTDI Ascencia by Naza TTDI, located at TTDI area will have the launch in Sept 2012. This is a block of 34-storey condo with a total of 157 units. 

Summary details of this project : 
Land size : approximately 3 acres
Built-up area : 500sf - 1200sf 
Tenure : Freehold
Total Unit : 157
Indicative Selling Price : 800psfWebpage : http://www.ttdiascencia.com.my/home.html 

Review : 
Location : It is a strategic location, easily connected to any shopping malls nearby.
Design : The facade looks good with a quite good built-up area and fit to current family sizes. The exterior landscape is incorporated with green landscaping, water features for nearer enjoyment to nature .
Price : The price comes with the location.
TTDI Ascencia

Saturday, 25 August 2012

New launch Sunway GEO SouthQuay

Sunway GEO by Sunway Group, located at SouthQuay was having the special preview today. It is where the La Costa condos were situated. There are a total of 31 units of 3-storey shopoffices and 220 units flexi suites. It was sold at 8mil - 9mil for intermediate unit and 12mil-18mil for corner units depending on sizes. According to the sales person this morning, 29 units were sold, leftover only 1 units corner.

Sunway GEO Southquay

Sunway GEO Southquay

Summary details of this project :
Land size : 27' x 59' for intermediate unit
Built-up area : 5600sf - 6500sf for intermediate unit
Tenure : Leasehold
Total Unit : 31 units 3/s Shopoffices and flexi suites

Intermediate unit Selling Price : RM8mil - 9mil
Sales status : 30 out of 31 units sold for shopoffice, flexi suites 50% sold
Webpage : http://www.sunwayproperty.com/pd/scpdd_Sunway_Geo_-_Retail._Flexi_Suite._Residence.aspx

Review :
Location : It is a strategic location

Design : The facade looks good. Stratified shopoffices , concept similar to Sunway Nexis
Price : Exotic pricing with impressive sales.
My Notes : Location is good, design is alright.

Wednesday, 22 August 2012

BCD Berhad

If you are familiar with this developer (BCD Berhad), you will link it to the new launch Concerto North Kiara, Segambut Dalam, Mont Kiara. This is a summary of what BCB has done so far and how it will grow from here.
Besides of Concerto North Kiara, Segambut, Mont Kiara, it has another 2 projects in Klang valley namely bungalows in Kota Kemuning and Taman Yarl, KL. These 3 projects given a total gross development value of RM2bil and above.  
BCB was a developer particularly in Batu Pahat and Kluang, Johor. The projects on hand include Taman Bukit Perdana, Evergreen Heights and Bandar Putra Indah, BCB Plaza, Prime City Hotel in Kluang and U-Mall in Skudai. It still has a total undeveloped landbank of 800 acres in Johor.
The upcoming launch of BCB is in may be early next year include 151 acres of leasehold land for 513 units bungalow development and 49 shophouses. The land was acquired in 2011 @ RM108mil (16psf) This guarded and gated development will be launched in 4 phases.  The indicative price of the bungalows starts at RM2 million with land area from 6,000 sq ft and built-up areas between 4,500 sq ft and 6,000 sq ft.

Mulpha sold Jalan Sultan Ismail Land @ RM3,300psf

The land was originally reserved  for a proposed Grade “A” office building, known as Menara Mulpha and owned by Menara Mulpha Sdn. Bhd.

Summary of the land :
Land area : 0.72 acres
Location : Jalan Sultan Ismail (one of the highly sought after locations)
Transacted Price :   RM104 million @ RM3,300psf
Date of SPA : October 2011
Purchaser : A company with links to Penang-based Monoland Co Bhd and CA + Associates, which has several notable projects in Penang such as The Cove and Central Park.
Mulpha land along Jalan Sultan Ismail
 Initially, Mulpha acquired the land in 1996 for about RM1,000psf and had plan to build a 23-storey Grade “A” office building with a lettable area of 270,000sf with an estimated gross development value of over RM350 million. The building was Designed by the world-renowned New York architects Kohn Pederson Fox.

Before this impressive transaction value, Sunrise Bhd in 2008 acquire 1.59-acre Wisma Angkasa Raya (land and building) @ RM2,588 psf. On the other hand, a 0.66-acre land in Bukit Bintang was transacted at a record RM7,209psf to Urusharta Cemerlang (KL) Sdn. Bhd.

Due to the scarcity of land in the city center, the land price increased tremendously from year to year.

Tuesday, 21 August 2012

Upcoming Launch Concerto North Kiara @ Segambut (Block 3)

In view of overwhelming reponse of Block 1 of Concerto North Kiara which already achieved 80% sold, the Upcming Launch Concerto North Kiara Block 3, a 27-storey condominium is set in Sept 2012.  On the other hand, Block 2 Concerto North Kiara will be launched after the Block 3 Concerto North Kiara. This project is located at in at the Segambut area, along Jalan Dutamas Jaya. This condominium is developed by BCB Berhad. A developer on listed board based at Johor and Seremban area.

Summary details of this project :
Land area : 5 acres
Tenure : Freehold
Total Unit : 440 (Phase 2 : 162 units)
Sizes : 1580sf – 1867sf
Density : 88 units per acre
Selling Price : RM650psf

Webpage : http://www.bcbbhd.com.my

Details and images of Block 3 Concerto North Kiara will be pulished later.

Sunday, 19 August 2012

1Malaysia People-Friendly Home (RMR1M)

Have you ever heard about this 1Malaysia People-Friendly Home (RMR1M)?

A summary of the above is as follows : -
  • Syarikat Perumahan Negara berhad (SPNB) is focusing on delivering 10,00 houses this year under 1Malaysia People-Friendly Home (RMR1M) program.
  • To qualify on this, applicants must not exceed RM3k per month. Other conditions include not having a house or living in an old, incomplete or dilapidated house.
  • The government has allocated RM20k each for buyers of 1Malaysia People-Friendly Home (RMR1M), which are priced at RM65k only. 

KL EcoCity Vogue Suites One launched in May 2011

KL Ecocity with a land area of 25 acres will be jointly developed by SP Setia and Kuala Lumpur City Hall (DBKL). This is a big piece of land located just opposite Mid Valley Megamall. KL Ecocity consists of Vogue Suites, Strata Office, Boutique Office, Condos, serviced apartmnents and retail.

One of the component of development is known as Vogue Suites. Vogue Suites one KL Ecocity consist of 2 blocks 60-storey condos. Vogues Suites one KL Ecocity was launched in May 2011, it was 1 year ago and have already achived 80% sale.
Vogue Suites One Tower

Vogue Suites One Entrance

Summary details of this project : 
Land area : 3 acres
Tenure : Leasehold
Total Unit : Block A : 364 & Block B : 344 Total 708 units

Sizes : 
  • 1 bedroom - 650 to 700 sqft
  • 1 + 1 bedroom - 750 to 800 sqft
  • 2 bedrooms - 900 to 1,100 sqft
  • Lofts - 1,600 to 3,800 sqft
  •  Average Selling Price : 1200psf
    Webpage : http://www.klecocity.com.my/resitower1.asp

    Review :
    Location : This is a quite good location in term of connectivity to PJ and KL
    Design : The facade looks good. Various sizes.
    Vogue Suites Facility Deck
    Vogue Suites One Layout plan
    Price : The pricings is quite high in view of it is near to Mid Valley Megamall and The Gardens.  
    My Notes : Location is good, design is alright, a good place to invest

    Wednesday, 15 August 2012

    New launch Arcoris SOHO @ Mont Kiara

    Arcoris SOHO @ Mont Kiara  by Sunrise is located at exclusive enclave of Mont' Kiara. This project consists of 1 block of 25-storey SOHO. Sprawling on the land of 6 acres, this development consists of  two parallel terracing blocks of 18 and 35 storeys, the 1.5 million sq ft freehold development integrates five components — business suites, SoHo, luxury residences, hotel, and boutique retail. Office suites of Arcoris @ Mont kiara was launched at around 650psf – 700psf according to the sizes. They have recently in June launched the SOHO.   

    Arcoris SOHO @ Mont Kiara
    Summary details of this project :
    Land area : 6 acres (mixed development) This summary will focus on SOHO
    Tenure : Freehold
    Total Unit : 368 units SOHO

    Sizes : 450sf – 1,000sf
    Average Selling Price : RM850 – 1000psf

    Sales status : 60%
    Webpage : http://www.arcorismontkiara.com/

    Review :
    Location : It is a affluent location once you mentioned about Mont Kiara, this is undeniable
    Design : The facade looks good. Sizes at 450sf is abit small, however, you have the option up to 1000sf.
    Price : Affluent location comes with exotic pricing. The smaller the units are, the RMpsf will go higher. Same principle applied everywhere.   
    My Notes : Location is good, design is alright, may consider if you estimate it could fetch the rental yield that you expect.  
    Arcoris SOHO @ Mont Kiara

    Arcoris SOHO @ Mont Kiara

    Saturday, 11 August 2012

    New Launch Saville The Park Bangsar

    Saville @ The Park is located at Pantai Hillpark, South of Bangsar. This project consists of 2 blocks of condo and 18 units of 2 1/2 –storey semi-detached. Sprawling on the land of 5.23 acres, it is having fantastic view towards PJ, Bukir gasing, Bangsar and KL City. A block of condo and semi-detached were launched in March 2012 and another one was launched in end of July 2012.  

    Summary details of this project :
    Land area : 5.23 acres

    Tenure : Freehold
    Total Unit : 408 units condos and 18 units
    2 1/2 –storey semi-detached
    Sizes : 1015sf – 1646sf for condos, 2415sf - 2528sf for penthouses and 3300sf for semi-detached
    Density : 81 units per acre
    Average Selling Price : Condos (500psf  for Block A and 600psf for Block B), semi-detached (RM2.28mil)

    Sales status : Condo (85% sold for block A and 40% sold for block B); Semi-detached (50% sold)
    Webpage : http://www.amona.com.my/saville-the-park-bangsar.html

    Review :
    Location : This project is situated at the Pantai Hillpark. This is a quite good location in term of connectivity to PJ and KL

    Design : The facade looks good. Various sizes.
    Price : The pricings is quite reasonable at this area. 

    My Notes : Location is good, design is alright, choosing a good unit with a good view is a good choice. I happened to drop by at UOA office, they are still selling around RM470/sqft for those above 1900sf.

    Saville @ Bangsar Location Map

    Saville @ Bangsar Condo View

    Saville @ Bangsar Main Entrance

    Saville @ Bangsar Open Space

    Saville @ Bangsar Villa

    Wednesday, 8 August 2012

    Upcoming Launch Rainz Residence

    Rainz Residence is located at OUG, Bukit Jalil by a devloper knownas Jalil Max. It is still at a very preliminary stage of development planning and scheduled for launching in 2013.

    Rainz Residence consists of : -
    1 block of 39-storey condo
    3 blocks of 32-storey condo
    1 block of 13-storey condo

    Further details on this Rainz Residence is not available for the time being. It has a few images and the facade is very impressive. Check out the artist impression as follows : -
    Rainz Residence

    Rainz Residence

    Rainz Residence

    Rainz Residence

    Monday, 6 August 2012

    Rubber Research Institute of Malaysia (RRIM)

    The redevelopment of the Rubber Research Institute of Malaysia (RRIM) land is part of the greater Kuala Lumpur Strategic Development initiative, under 10th Malaysia Plan.
    Rubber Research Institute of Malaysia (RRIM)
    It is in the news that the prequalification process for bids of Rubber Research Institute of Malaysia (RRIM) land in Sungai Buloh, Selangor will start by end of this year. EPF will call for the prequalification bids as soon as it gets the government’s nod for the proposed development of the land. Developers who meet the requirements of financing, expertise, reputation and innovation will be considered.

    EPF (Kwasa Land Sdn. Bhd., EPF’s wholly owned unit) is the landowner and master developer of the project. EPF bought 890 hectares of the total 1,215 hectares supply from Federal Government for over RM2bil. EPF will then carve the land out into 20 hectares to 200 hectares each parcel. The balance of Rubber Research Institute of Malaysia (RRIM) land is for :
    • Malaysian Rubber Board hub (217 hectares)
    • My Rapid Transit (MRT) Sungai Buloh depot (72 hectares)
    The latest news as published in Star last week, Dijaya Corp Bhd is talking with EPF on jointly developed certain parcels of Rubber Research Institute of Malaysia (RRIM) land in Sungai Buloh. Rubber Research Institute of Malaysia (RRIM) land begins from My Rapid Transit (MRT) Sungai Buloh depot in the Northern portion and end with the Southern portion bordering the Tropicana Gold & Country Resort, a development by Dijaya. In order to have an access directly to Petaling Jaya, an access road through Tropicana Golf Resort is required. As such, Dijaya is currently in the midst of preparing an amalgamation deal. Dijaya in April already entered into agreements with several vendors for a proposed acquisition of 73 properties, comprising 49 parcels of land and 16 buildings for RM949.9mil.
    Rubber Research Institute of Malaysia (RRIM)

    Costs involved to buy a property in Malaysia

    What are the costs involved to buy a property in Malaysia? Below are the summary of it : -
    Booking fee:
    2% of the purchase price. The amount is subject to negotiation between the seller and buyer.
    Down payment upon signing of Sales & Purchase Agreement (SPA): 10% of the purchase price (inclusive of the booking fee.
    Stamp duty for Memorandum of Transfer:
    First RM 100,000
    Next RM 400,000
    Above RM 500,000

    Legal fee:
    Legal fee for Sales & Purchase Agreement *
    First RM 150,000
    Next RM 850,000
    Next RM 2 million
    Next RM 2 million
    Next RM 2.5 million
    Next RM 7.5 million

    *The legal fee is subject to a minimum RM 300 fee and for the purchase of a low-cost or medium cost houses governed by the Housing Development (Control & Licensing) Act 1966 (HAD 1966), special concession of flat rate of RM 250 is given to the lower income group.

    Valuation fee (applicable for subsale buyer for loan security purposes):

    Fee for other capital valuation / rating valuation services based on an 'Improved Value' basis 1
    1/4% of the first RM100,000

    1/5% of the residue up to RM2 million

    1/6% of the residue up to RM7 million

    1/8% of the residue up to RM15 million

    1/10% of the residue up to RM50 million

    1/15% of the residue up to RM200 million

    1/20% of the residue up to RM500 million

    1/25% of the residue over RM500 million

    Estate agency fee  (applicable if you engage an Estate Agent):

    Sale or purchase
    Land and buildings
    Maximum fee of 3%

    And of course abit of miscellaneous charges from developer, lawyer and banks to be paid for buying a property in Malaysia.

    Friday, 3 August 2012

    IGB Corporation (Shopping Malls)

    If you have heard of Mid Valley Megamall and The Gardens Mall, of course you will link it to IGB Corporation. IGB Corporation (IGB) is the country's leading landlord with valuable portfolio of prime investment properties.

    What are under the portfolio of IGB Corporation?
     They own development properties and investment properties (2.6mil sq.ft retail, 2.2 mil sf office and hotels).

    IGB Corporation
    This is a blue chip developer / landlord with an impeccable execution track record in creating value for its landbank. Mid Valley Megamall and The Gardens Mall are held under KrisAssets Bhd., while the office and hotel assets are housed under IGB Corporation. Mid Valley is an integrated mixed-use development comprising retail, office, residential and hospitality properties, built on a 50-acre piece of prime land.

    Market Value of Mid Valley Megamall and The Gardens Mall
    According to the AmResearch Sdn. Bhd, 6 Jan 2012, The total market value of these 2 malls are RM4bil @ RM1,538psf.
    • Mid Valley Megamall with the NLA of 1.65mil sf, is the crown in the jewel, consistently having 100% occupanycy with the average rental of RM10psf, reflecting the NOI of RM170mil to RM200mil a year.
    • The Gardens Mall 834ksf, having the occupancy of 98% at the rental of RM9.50psf.
    Net Book Value of Mid Valley Megamall and The Gardens Mall
    According to the AmResearch Sdn. Bhd, 6 Jan 2012, The total net book value of these 2 malls are RM2.82bil

    We could see there is a strong traffic growth on these 2 retail malls when the KL Eco City are ready. The RM6bil KL Eco City would definitely provide further catalysts for the retail market in Mid Valley City.

    A summary on other assets of IGB will be provided in next article.