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 .

New Launch : Concerto North Kiara

3 blocks of Concerto North Kiara

Concerto North Kiara comprise 2 blocks of 27-storey and 1 block of 29-storey high-rise condominium. It is located at in at the Segambut area, along Jalan Dutamas Jaya. The preview for the 1st block (27-storey) was set on 9 June 2012 and thereafter was officially launched in 7 July 2012. 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 1 : 162 units)
Sizes : 1580sf – 1867sf
Density : 88 units per acre
Selling Price : RM650psf
Sales status : 65% sold
Webpage : http://www.bcbbhd.com.my

Review :
Location : This project is situated at  Dutamas area, near to Changkat View apartments.

Design : The facade looks good. Standard sizes catered for current family. All the units come with private lift. The units are fully furnished with kitchen appliances ie. fridge, oven & etc. Moreover, in the brochure, they are highlighting the usage of best technology on Dainage System.
Price : RM650psf is a standard market condo rate. As a comparison, Changkat View condo was sold at the range of RM400psf.   

My Notes : Nowadays, we could see condo was sold at the range of RM650 to 700psf.

Upcoming launch : The Veo @ Desa Melawati

The Veo (formerly known as DMBC4) is located at Desa Melawati and is an upcoming launch by Sime Darby in August 2012. The Veo consists of 2 blocks of 30-storey high-rise condominium. It is built on a piece of land 4.2 acres, overlooking into KLCC and Melawati hills.

Summary details of this project :
Land area : 4.2 acres

Tenure : Freehold
Total Unit : 350 (175 units a block)
Sizes : 745 – 2275sf (single unit) ; 2945 - 3245sf (duplex)
Density : 83 units per acre
Indicative Selling Price : RM600psf – 700psf
Webpage : http://www.simedarbyproperty.com/property_view.aspx?productID=738ea257-91d8-44c6-941c-7a7aa16fdca2

Review :
Location : This project is situated on the hilltop of Melawati hill, overlooking into KLCC or mountain. This is a quite good location in overall.

Design : The facade looks good. Various sizes are from as small as studio unit to 2+1 as well as duplex.
Price : The pricings at 600psf – 700psf is at the average condo pricing in Damansara, Petaling Jaya as well as Mont Kiara. 
My Notes : Location is good, design look quite up to trend, pricing is a bit steep at Desa Melawati area. Choosing a good unit with a good view can be considered.

New launch : Bayu Sentul

Bayu @ Sentul is 2 blocks of 26-storey high-rise condominium. It is located at in the heart of Sentul (Taman Dato Senu) encompassing 2.38 acres of land. The 1st block was launched in 30 June 2012 @ 400psf and 2^nd block was launched at 430psf in 7 July 2012. This is condominium developed by Arus Embuna member of Melati Ehsan Group. It is about 3km from YTL project Tamarind and Capers in Sentul.

Summary details of this project :
Land area : 2.38 acres (commercial title)

Tenure : Leasehold
Total Unit : 360
Sizes : 1230 - 1630sf
Density : 150 units per acre
Indicative Selling Price : RM400psf – RM430psf

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

Review :
Location : This project is situated at  at Taman Dato Senu nearby Naili's Corner . It is surrounded by old stalls, old landed houses. It is near to Sentul town, next to a 3-acre central landscaped park.

Design : The facade looks good. Standard sizes (1230 -1630sf) catered for current family size.
Price : The pricings at 400psf (1st phase) & 430psf (2nd phase) are reasonable at current market. 

My Notes : In comparison to Capers launched in 2010 @ 500psf average, this project of course not so impressive in terms of façade and design and inferior location and, yet it could definitely worth the value of RM400psf to RM430psf. Choosing the units facing the park will be a good choice.

What is Sales and Leaseback?

In short this is a sales of an interest in property (freehold or leasehols) and lease back to the seller. This is a easy way and can be considered as best tools to generate capital from Real Estate. This is an effective tool to remain the intention of the seller on what he / she is going to do.

Sales and leaseback is also used by the the corporate or developer mostly in commercial property. The commercial property will be sold at fair market value and leased back. This is important for teh corporate to retain the control of the property.

What are the benefits of sales & leaseback?

• Income guranteed.
• Free-up capital for re-investment.
• Improve the balance sheet.
• Receive 100% of Open market value.
• Low payments with long terms (up to 30 yrs or more.).

How do you start?

• Firstly determine the Open Market Value of the property
• Then you will need to ensure the existing or potential cash flow/opportunity cost in the said property.
• Then you determine the Yield that you will be provided
• You will then need to structure the "deal" i.e. Vendor"s Obligations, Purchaser"s Obligations and in some cases, a third party "Lessee"s Obligations".
• The next is of course to package the whole thing together and commence the marketing of the product.

Issues to look out for in a Sale and Leaseback scheme include:

1. Term of Tenancy. The longer the better, but the norm is usually 3+3
2. Date of Commencement of Tenancy, especially if you have bought an off the plan development. Ensure that the date is confirmed
3. Rental Amount. It will usually be a percentage of the Purchase Price or in some cases will also include a profit sharing ratio. 6%-8% on both gross and nett levels are acceptable. While the profit sharing ratio will be 65% to the owner and 35% to the Seller/Nominee. Ensure the operating expenses are captured or excluded. 
4. When the Rentals are Paid. For cashflow reasons, please check this clause carefully. Payment mode will differ from Quarterly, Half Yearly or even Yearly in advance
5. Furnishing (if applicable). In most serviced apartments or hotel, furnishing is a requirement. Ensure if it is part of the purchase price or is separate and also ensure that the furnishing is the same for the whole development. This would make sure that there are no preference units.
6. Sinking Fund. Look out for the establishment of the sinking fund for the Building. Very important especially is sale on Strata. In event the sale includes the Furniture, ensure the Seller/Operator also provides a sinking fund for your furniture.

New launch : Dua Menjalara @ Menjalara launching in August 2012

Dua Menjalara : Entrance Statement

Dua Menjalara is second phase of Majalara 18, located at Manjalara, Kepong. This is a 18-storey condominium developed by f3 capital. About 5 mins driving time from Desa ParkCity.

Summary details of this project :
Land area : 2 acres
Total Unit : 95
Sizes : 1300 - 1600sf
Density : 50 units per acre
Indicatice Selling Price : RM500psf - RM600psf
Webpage : webhttp://www.f3capital.com.my/ 



Review :
Location : Location is near to TNB, within a matured town of Manjalara.

Design : From their webpage, the facade looks slim and stylish. Standard sizes (1300 -1500sf) catered for current family size.
Price : The indicative pricing at 500psf is reasonable at current market. This is largely depending on what are provided in the units.
My Notes : I would think this project is at reasonable pricing, choose the units with good view and away from the TNB is a good bet. You may check how is the building condition of Manjalara 18 before making the decision.


An update as at 13 August 2012 : This project was sold since 1st week of August 2012, selling price is at RM500-550psf, currently giving 2% - 3% discount for small units and 8% discount for bigger units. This is a preview and reported 30% sold.