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

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 10^th 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	1%
Next RM 400,000	2%
Above RM 500,000	3%

Legal fee:

Legal fee for Sales & Purchase Agreement *	First RM 150,000	1%
	Next RM 850,000	0.7%
	Next RM 2 million	0.6%
	Next RM 2 million	0.5%
	Next RM 2.5 million	0.4%
	Next RM 7.5 million	Negotiable

*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.

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.

KUALA LUMPUR INTERNATIONAL FINANCIAL DISTRCIT (KLIFD)

If you have heard of KUALA LUMPUR INTERNATIONAL FINANCIAL DISTRCIT (KLIFD) yet not sure what is it about, below is a summary of the KUALA LUMPUR INTERNATIONAL FINANCIAL DISTRCIT (KLIFD) .

This is one of the early entry point projects under Malaysia’s Economic Transformation Programme (ETP), national roadmap to more than double Malaysia’s per capita income to RM48k in 2020, while propelling the nation to a high-income economy. This RM26 bil project, which will house a physical clustering of the right mix of key international institutions and support services, is estimated to grow to 3 times its current size by 2020. The Kuala Lumpur International Financial District (KLIFD) is a key to strengthen the position of Kuala Lumpur as the global financial city of choice.

The master planner Machado and Silvetti Associates and the Malaysian partner, Akitek Jururancang (M) Sdn. Bhd. are the master planners for KLIFD. With the land size of 28.3 hectare, this project will spearhead a greener Greater KL with green spaces, sustainable buildings, limited motor vehicle usage, large tranquil parks coupled with rooftop gardens and solid waste management eco-system.

KLIFD is with the aim to make sure the green areas are highly functional, encourage the creation of community, making public spaces viable and adopt the top waste management system.

The preliminary work will start on 1^st July, and in operation in 2016.

Location

Located in the heart of KL, KLIFD lies at the city’s southern tip. It sits in between Jalan Tun Razak, Jalan Sultan Ismail and the Putrajaya elevated highway. KLIFD will expand the city’s business centre and touist belt, from the Kuala Lumpur City Centre (KLCC), the Pavilion Retail Centre to Bintang Walk.

To accelerate the development of KLIFD, the Government proposes the following incentive package:

• Income tax exemption of 100% for a period of 10 years for KLIFD  status companies;
• stamp duty exemption  on  loan  and  service  agreements  for KLIFD  status companies;
• Industrial Building Allowance and Accelerated Capital Allowance for KLIFD Marquee Status Companies; and
• Income tax exemption of 70% for a period of 5 years for property developers in KLIFD.

KUALA LUMPUR INTERNATIONAL FINANCIAL DISTRCIT (KLIFD)



KUALA LUMPUR INTERNATIONAL FINANCIAL DISTRCIT (KLIFD)



KUALA LUMPUR INTERNATIONAL FINANCIAL DISTRCIT (KLIFD)



KUALA LUMPUR INTERNATIONAL FINANCIAL DISTRCIT (KLIFD)

New Launch : Window on the Park launched in July 2012

Window on the Park comprises 3 blocks of high-rise condominiums with a total of 540 units. It is located at Bandar Tun Hussein Onn, Batu 9, Cheras Selatan. The preview for the 1st block was set on 22 July 2012. This condominium is developed by SDB Berhad. 

Windows On The Park

Summary details of this project :

Land area : 8.9 acres (3 blocks)

Windows On The Park

Tenure : Freehold

Total Unit : 540

Sizes : 916 sq. ft. to 2,400 sq. ft.

Density : 61 units per acre

Selling Price : RM650psf

Sales status :50% sold

Discount & promotion package : 10% rebate; DIBS scheme; stamp duty, legal fee for loan and S&P absorbed by the developer. Only pay RM8k upon booking.

Webpage : http://www.sdb.com.my/sdbproperty_Windows_On_The_Park.aspx

Review :

Location : This project is situated at  Bandar Tun Hussein Onn, Batu 9, Cheras Selatan.

Design : The facade looks good, emphasizing on looking towards the park. The units are furnished with wet and dry kitchen cabinets, sinks, hood and hob, fridge. Shower screen and water heater were only at master room bathroom and master room was fitted with wardrobe. The balcony is fixed with metal grills instead of glass.

Price : RM600psf after discount is a bit amtibitious for the location of Taman Tun Hussein Onn.



Windows On The Park

My Notes :

• The unique selling point is on 4.2 acres of landscaped environment.
• In reality, the 1^st block is blocked by the upcoming final tower block and this is the furthest from the park.
• Smaller unit are facing another apartment. If you like this project and buying for own stay, one of the better option is to get these smaller unit facing the facility/pool. Of course, obviously, you couldn’t get any unit with the park view.
• In view of there are alot small apartments under construction and will be floating for subsale in the future. Developers now are trying to do SOHO, SOVO, SOFO to stick in commercial title and to avoid 70%ltv limit for investors.
• The final block will be the block enjoying a good full view of the "park", guess what the pricing will be!
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Upcoming Launch : Phase 3 Forest Hill Damansara

Forest Hill main entrance



Forest Hill Damansara is located at right after the LDP Penchala toll. This project consists of 6 units semi-detached, 9 units bungalow and 63 units villa (zero lot bungalow). This is a guarded and gated strata scheme. Phase 1 & Phase 2 with a total of 50 units were launched in April 2012, and Phase 3 (28 units) will be launched soon.

Forest Hill Location Map

Summary details of this project :
Land area : 17 acres

Tenure : Leasehold
Total Unit : Phase 1 : 25, Phase 2 : 25 and Phase 3 : 28 (total 78 units)
Lot Size :  Varies ; Typical : 43’ x 80’
Sizes : 5200 – 5500sf
Density : 5 units per acre
Selling Price : RM 2.8mil – RM 3.0mil for Phase 1&2
Developer : Ehsan Bina Sdn. Bhd. (This is a contractor for Casa Residence (Cheras), Casa Villa (Shah Alam)), Flora Murni (Mont Kiara), Anjung Tiara, Taylors Lakeside Campus, Savanna 2 Bukit Jalil, Casa Tropicana new block, and Damansara Uptown's new development
Webpage : Not advertise anything about Forest hill  (Sold by Agent : Henry Butcher)


Forest Hill Unit Layout

 Review :
Location : This project is situated near to the Flora Damansara flat. It is very near to highway although the agent claimed that the subject land is 40 feet above the road.  

Design : The facade looks good. The sizes are typical bungalow sizes at 5000sf.
Price : The pricings at 2.8mil is quite fair looking at the location is at Damansara if you do not mind it is near to flats. 

Forest Hill Artist Impression

Forest Hill Artist Impression

My Notes : Landed properties are getting lesser due to the scarcity of land in prime area. In view of the 5% discount given and DIBS with only 5% downpayment, the affordability is increased. We can see that units leftover are mostly the units near LDP. I have no doubt that this project can be sold off soon with the unique selling point of  6-acre natural lake, Landscaped linear park with zen garden, home comes with lift, quality finishes of marble to living, dining and teak wood for rooms and it is secured with multi-tiered security with CCTV.

You One @ Subang USJ launched in June 2012

You One @ Subang USJ

You One @ Subang USJ is located at Subang Jaya. This project consists of 2 blocks of serviced apartments with 35-storey and 31-storey respectively. Both the blocks were continuously launched within 3 weeks in June 2012 and received quite good respond. One of the block is 100% sold and the other one is 40% sold.  


location map (You One @ Subang USJ)

Summary details of this project :
Land area : 2.9 acres
Tenure : Freehold
Total Unit : Block A : 269 & Block B : 311
Sizes : 650, 1300, 2600
Density : 200 units per acre (commercial title, plot ratio applied)
Average Selling Price : RM650psf
Developer : PJD landmark Sdn. Bhd.
Webpage : http://www.pjdprop.com.my/youone/


You One @ Subang USJ

Review :
Location : This project is situated at very central of USJ, near to Subang Summit and Giant.

Design : The facade looks good. Various sizes are from as small as 650 to 2600sf, only 8 units per floor.
Price : The pricings at 650psf is at the average condo pricing. This pricing is equal to Mont Kiara and Damansara areas. 
My Notes : Location is good, design look quite up to trend, pricing is a bit steep at USJ area, where at this pricing of 500k onwards, there are still many options of landed properties in this areas, but all are old houses. This project is entitled for DIBS scheme, and all are given 10% discount with additional 2% during the special preview which will make the price at the average of RM580psf.

My First Home Scheme by Malaysia

If you are staying in Malaysia, may be you have heard of this My First Home Scheme, may be not.
 

My First Home Scheme by Malaysia

Let me share with you this if you have not heard about this. The My First Home Scheme  was announced in 2011 during Malaysia budget in order to assist young adults to own their first home with up to 100% financing from Financial Institutions.

My First Home Scheme by Malaysia

Who is entitled for this scheme?

• Malaysian citizen
• First time home-buyer
• Individuals up to age 35 years
• Single borrowers with gross income less than RM 3000 per month
• Confirmed employee with minimum employment of 6 months with same employer
• Repayment of total commitment amount must not be more than 55% of the gross monthly income

What is the property that you can choose?

• Residential properties located in Malaysia only
• Property value between RM100k to RM400k
• For the purpose of owner occupation only (buyers are required to reside in the property)

How to apply?

• Eligible buyer will need to apply directly with participating banks

What are the financing requirements?

• Financing tenure not exceeding 40 years, subject to borrower’s age not exceeding 65 years at the end of financing tenure
• Amortizing facilities only (no redrawable features)
• Installments payable via monthly salary deductions or standing instruction
• Savings record ( 3months installment liquidity reserve)
• Compulsory fire insurance / Takaful

Which are the participating banks / financial institution? 

• Affin
• Alliance
• Ambank
• Bank Islam
• Bank Muamalat
• CIMB
• Hong Leong
• Maybank
• OCBC
• Public
• RHB
• Standard Chartered
• UOB

Malaysia My Second Home (MM2H)

Malaysia My Second Home (MM2H) programme is promoted by the Government of Malaysia to allow foreigners who fulfill certain criteria to stay in Malaysia as long as possible on a social visit basis with multiple entry Visa.

Malaysia My Second Home (MM2H) programme

The Social Visit pass is for a period of ten (10) years (depending on the validity of the applicants’ passport) and is renewable.

Why you should choose Malaysia My Second Home (MM2H)?

• This Malaysia My Second Home (MM2H) program is fully  supported by the Government of Malaysia
• You will have high standard of living with modern infrastructure and facilities
• The cost of living is one of the lowest in Asia
• This is the country that political stability
• People live peacefully with multi racial and this is a cultural country
• All recreation / entertainment / shopping / medical / education facilities well equipped
• There are alot of quality residences in Malaysia

What are the Benefits / incentives of Malaysia My Second Home (MM2H)

• You will have multiple entry visa of 10 years
• May import 1 motorcar from country of citizenship or where last domiciled or purchase 1 new motorcar made or assembled locally free of excise duty & sales tax subject to terms & conditions.
• May purchase up to 2 units of residential houses at a minimum prices above RM250,000 each except for certain areas in Sarawak (Kuching, Miri, Sibu) with the minimum price of RM300,000 each
• May apply for one maid / domestic helper subject to the guidelines of immigration department of Malaysia
• Allow to bring the children who under 18 years old and not married as their dependants.

Do you need to pay Tax?

• Participants are bound by the taxation policies and regulations of this country. However, pension remitted into Malaysia is exempted.

What are the financial requirements?

a. Upon Application

If you are age below 50 years old

• To show proof of liquid assets worth minimum of RM500,000/- and offshore income of RM10,000/- per month

If you are age 50 years old and above

• To show proof of liquid assets worth minimum of RM350,000/- and offshore income of RM10,000/- per month. For those who have retired, show proof of receiving pension from government of RM10,000 per month

b. Upon Approval

If you are age below 50 years old

• To open a fixed deposit account of RM300,000
• To maintain a minimum balance of RM150,000 from 2^nd year onwards under this programme

If you are Age 50 years old and above

• To open a fixed deposit account of RM150,000 or monthly off-shore income of RM10,000
•  To maintain a minimum balance of RM100,000 from 2^nd year onwards under this programme



MM2H

What are the medical requirement?

• All applicants and their dependents are required to submit medical report from any private hospital and clinic registered in Malaysia.
• All applicants and their dependents must possess medical insurance policy which is applicable in Malaysia .